In its most recent first-quarter earnings announcement, BlackBerry would not give specific sales numbers for its phones -- which is already a horrible way to start things off. But it did say that a
of 6.8 million phones were shipped in the first quarter.
Of those 6.8 million units, which were below analysts expectations of 7.5 million, only 40% of them were BlackBerry 10 devices. Meaning that only 2.7 million smartphones were the Q10 or Z10 devices.
Granted, the Q10, BlackBerry's new smartphone with a physical keyboard wasn't even for sale for a month in the U.S. at the time of the report. While that's a viable excuse, the Z10 didn't lend much of a hand in that department, since it has been available since January at the earliest and since March 22 in the United States.
Total smartphone sales were down 14% from the previous quarter, along with subscribers, which dropped to 72 million from 76 million, a decrease of 5.2% from the previous quarter. Adding salt to the wound, BlackBerry management said they would no longer be providing "nonfinancial material."
In other words, they will no longer provide subscriber growth -- or lack thereof. I think what management meant to say is that these numbers will likely remain bad and they don't want to talk about them going forward.
Just for some fun facts, Apple's iPhone 5 nearly outsold all of BlackBerry's smartphones in its weekend debut. Not in its first quarter. Not in its first month. No, its first three days of availability, Apple sold over five million units.
Taking it one step further,
Galaxy S4 sold 10 million units in its first 28 days of availability. So Essentially, Samsung sold 47% more S4's in a third of the time that BlackBerry sold its entire lineup of smartphones. Apple's iPhone 5 sales nearly doubled that of BlackBerry 10 devices (Z10 and Q10) in three days compared to BB10's three months.
The conference call was pitiful, and those who are saying they're holding on to BlackBerry stock have a long ways to go. I don't know how Heins is convincing anyone to stick around, but there's no way I'm touching BlackBerry.
The stock has been smashed in the days since it reported earnings, off nearly 36% from the closing price on June 27. But deservingly so. BlackBerry put up awful numbers, showed confusion over its Playbook tablet and refused to give key figures for investors and analysts. How can you trust that?
If BlackBerry is going to abandon ship on the Playbook to "focus on smartphones," then maybe management should
focus on smartphones.
At the time of publication the author was long AAPL.
This article was written by an independent contributor, separate from TheStreet's regular news coverage.