Priv will also be available at AT&T (T) and its retailers as BlackBerry attempts to improve its smartphones sales.
"Today is only the first of many great days, and many of our other carrier and retail partners will soon begin offering Priv in more markets, including Germany, Hong Kong and the Netherlands," CEO John Chen said in a blog post.
Early reviews for the phone have been positive because of the phone's increased security, battery life and full keyboard.
Priv could help Blackberry revive its smartphone segment, which accounts for less than 1% of the global market, but it may not be able to top Apple's (AAPL) iPhone, which also boasts security and privacy features, according to the Wall Street Journal.
Separately, TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- Net operating cash flow has declined marginally to $110.00 million or 4.34% when compared to the same quarter last year. In conjunction, when comparing current results to the industry average, BLACKBERRY LTD has marginally lower results.
- BBRY's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 32.26%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Computers & Peripherals industry and the overall market, BLACKBERRY LTD's return on equity significantly trails that of both the industry average and the S&P 500.
- The revenue fell significantly faster than the industry average of 25.3%. Since the same quarter one year prior, revenues fell by 46.4%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
- The gross profit margin for BLACKBERRY LTD is rather high; currently it is at 60.29%. It has increased from the same quarter the previous year. Despite the strong results of the gross profit margin, BBRY's net profit margin of 10.38% significantly trails the industry average.
- You can view the full analysis from the report here: BBRY
Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.