Passport Sales: Good Sign For BlackBerry Ltd (NASDAQ:BBRY)

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BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) Passport has seen some criticism initially due to its unique design, which many found awkward. The sales hardly stand in comparison to the new iPhone 6 models. Despite performing average in terms of sales figures, veteran industry analyst Jack Gold believes that this smartphone maker based in Waterloo, Ontario will benefit from its sales.

Comparison between Apple, BlackBerry not valid

Passport has a square shaped touch-screen and a keyboard, as well. The sales have been satisfactory with the company selling 200,000 units within two days of the launch. The websites selling the device went out of stock by this time. Amazon, Future Shop and Best Buy are few of those sites, and on Wednesday fresh stock was scheduled for arrival. On the other hand, 10 million units were sold on the first week of launch by Apple Inc. (NASDAQ:AAPL) of its new iPhone devices. Passport is being sold by all the three major Canadian carriers Telus, Bell and Rogers while their websites are giving more prominence to the Apple iPhone 6.

The comparison between the devices released by two the companies is not fair and is similar to comparing apples with blackberries, says Mr. Gold, of independent J. Gold Associates in Northborough, Mass. Gold does not consider it fair for BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) to be compared with Apple as it has shifted its focus to enterprise users and away from consumers.

U.S. sales to add more to sales

The devices sales for the company were no more than 2.4 million in the second-quarter of 2014. Passport is due to release in U.S., where it will be carried by AT&T.

“The numbers may go up significantly once [AT&T] do have them in their stores,” Mr. Gold said.

If the company successfully sells 10 million devices per year it will be able to reach the break even according to CEO John Chen. The company has lots of new products in its pipeline, and the Passport could be seen as a warm up for the Classic device scheduled for release late this year. The device is modeled on the popular and successful BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) Bold smartphone.

Passport has repeatedly been touted as a device that has appeal only for the hard core business users primarily because of its odd shape, but the fact is that with the company by selling 10 million to 15 million units of Passport will be a major success for the company, says Mr. Gold.

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Aman Jain
Aman has an MBA in Finance with industry experience of more than 7 years, including work as Risk analyst for CAT modelling firm. Presently, he is a director of freelancing firm with focus on investment and technology related articles.

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