BlackBerry Sold 3 Million Z10 and Q10 Units Last Quarter (BBRY)

BlackBerry's BBRY long-awaited smartphones, the Z10 and Q10, may have sold no more than three million units during the first fiscal quarter. The company sold a total of 6.8 million handsets during the sales period, which ended on May 31, 2013. Analysts had expected the firm to sell 7.5 million handsets. BlackBerry did not specify exactly which units were sold, causing many to speculate that the BB10 handsets are not performing well at retail. According to DigiTimes, the Z10 and Q10 accounted for as much as 40 percent (anywhere from 2.5 million to three million units) of total BlackBerry handset sales. If true, this means that the majority of BlackBerry sales are going to older, less expensive models. Related: BlackBerry 10 Will "Struggle to Appeal to a Wider Audience" This is only the latest sign of trouble for the company formerly known as Research In Motion. Some analysts have tried to put a positive spin on BlackBerry's ongoing issues. One even suggested that the firm's decline could make it a better takeover target. That may be the case, but should investors hold their positions and hope for the best? The answer depends on which report investors choose to read.

• Deutsche Bank has downgraded BlackBerry to Sell.
• Hudson Square did the same thing.
• Canaccord Genuity reiterated its Sell rating and lowered its Price Target.

Societe Generale is perhaps the only firm that is telling investors to hold onto the stock. Regardless, DigiTimes' supply chain sources remain optimistic. They believe that the Q5, the first entry-level BlackBerry 10 handset, will help the firm "recapture a portion of market share as well as swing back to profitability." Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at 248-636-1322 or louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ