In some ways, I would love this if it were true. According to estimates I've done, it's likely BlackBerry's losing money every time it sells a BB7 or PlayBook tablet device. The sooner the company can exhaust its inventory and shift the world to BB10s, the better. However, it's hard for even a BlackBerry bull like me to see the Z10s going from 1 million to 4 million units in the quarter. I think the number will surprise the BlackBerry bears, but I think it's more likely to expect something in the range of 2.5 to 3 million Z10s. But let's assume that SocGen is right. The analysts say the Z10 Average Selling Price (ASP) is $500 (which is probably right), and the Q10 goes for an ASP of $550 (also believable). They think the BB7s go for an ASP of $200. Put it all together with their numbers and you get to device revenues of $2.7 billion. Figure then that BlackBerry service revenue slightly declines (in the single digits) and you have to add another $900 million of revenue. You're now at $3.6 billion. Add in some software sales, and you get to their $3.7 billion revenue numbers.