RIM has been pinning its hopes of keeping up with Apple and Google on its latest BlackBerry Torch 9800 phone. The Torch as you know has a full touchscreen display and a slide out QWERTY keyboard which some consider the best of both worlds.
Goldman Sachs is apparently not impressed and has issued a sell rating on RIM's stock. Commenting on Research In Motion Ltd. following the August 12th launch of the new BlackBerry Torch the investment firm called the launch "underwhelming."
Goldman noted that the stores did not sell out of the Torch during the launch, and that most of the sales were upgrades from existing BlackBerry users. In contrast the iPhone 4, Sprint EVO, and Verizon Droid X all sold out during their launch weeks.
This is not good news for RIM as Goldman Sachs is one of the top firms on Wall Street. Goldman's comments signal upcoming problems for RIM. With the recent news of RIM caving to foreign governments wanting to gain access to encrypted BlackBerry messages, it hasn't been a good month for RIM.
Goldman Sachs is apparently not impressed and has issued a sell rating on RIM's stock. Commenting on Research In Motion Ltd. following the August 12th launch of the new BlackBerry Torch the investment firm called the launch "underwhelming."
Goldman noted that the stores did not sell out of the Torch during the launch, and that most of the sales were upgrades from existing BlackBerry users. In contrast the iPhone 4, Sprint EVO, and Verizon Droid X all sold out during their launch weeks.
This is not good news for RIM as Goldman Sachs is one of the top firms on Wall Street. Goldman's comments signal upcoming problems for RIM. With the recent news of RIM caving to foreign governments wanting to gain access to encrypted BlackBerry messages, it hasn't been a good month for RIM.
