The delays damaged sales in the U.S. and Latin America, which comes as competition from Apple ( AAPL ) and Google ( GOOG ) tightens over the market for smartphones and tablets. Analysts believe these hitches, issues with execution and blasé launches of new products will plague the company for the remainder of 2011.
"We've heard for too long about RIM 's great product roadmap," according to National Bank analysts. "Consumers are not listening nor waiting."
Despite having promised a turn-around with a new line of BlackBerry smartphones to be released early next month, the Waterloo, Ontario-based company is continuing to lose market share to the trendy offerings from Google and Apple. But the new line of handheld devices is being panned even prior to its release,
"RIM does not even seem to have dual cameras on its upcoming BlackBerry product line-up," the National Bank analysts said. "The last time we checked, video is the future."
At 9:26 a.m. on Friday, RIMM stock was valued at $56.59 per share.