UBS analyst Amitabh Passi has cut his forecast on troubled tech manufacturer Research In Motion, according to a new report from Boy Genius Report.
The analyst is now cutting price expectations from $41 to $30.
“Our store checks also show accelerating market share deterioration for new subscribers during June and July as multiple top-tier Android products have been rolling out and Apple continues to gain market share,” he wrote, according to the report.
Passi wrote that the launch of the BlackBerry 7 line-up will deliver the company some momentum, he also says the move to QNX will be important from a strategic point of view.
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Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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