BlackBerry’s stock is tanking this morning following a report from ITG Investment research that says sales of the company’s new BlackBerry Z10 phone are weak in the US.
In many cases, ITG says more people are returning the Z10 than keeping it and overall demand for the phone in the US is very weak.
The Z10 launched in late March on Sprint, T-Mobile, and AT&T, but early reports say those carriers haven’t done a great job at promoting the phone. AT&T was the first carrier to sell the phone and many stores didn’t even have demo units on display on launch day.
BlackBerry’s stock is down 5.4% as of this writing, trading at $13.89 per share.