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Blackberry Ltd (NASDAQ:BBRY) to Reveal Blackberry Venice Next Month, Analysts Not Impressed

Blackberry Ltd Venice Android Slider
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BlackBerry Ltd (NASDAQ:BBRY) has been pushing ahead with plans to turnaround the firm over the last two years. It has a launched a news OS, new phones, and it has built a stronger focus on software. The firm has opened itself up to working with previous rivals and it seems that there’s light at the end of its turnaround tunnel. The rumor mill has been at hard at work with tales about how Blackberry is building an Android phone. It appears that the matter will be settled finally next month.

Blackberry Venice Android Slider

Geek Snack reports that the matter of a rumored Android device – BlackBerry Venice that leaks, rumors and hints have teased will be settled at The Code/Mobile event taking place under Re/Code in California on October 7 and 8. The event will present Blackberry (NASDAQ:BBRY) CEO, John Chen with a chance to discuss the future of the firm. Geek Snack posits that the ” event should present us with new information about the BlackBerry Venice and other new handsets that we’ve been hearing about on-and-off for the past few months.

Here’s what we know about BlackBerry Venice

BlackBerry Venice appears to be one of the four devices that the firm wants to release this year before it slows down its hardware to “one, maybe two phones per year”. Venice has been touted to be a high-end smartphone that will be on par with flagship phones on rival smartphone platforms in terms of specs. For instance, it was hinted that it would have a 5.4-inch quad-HD display. It has an 18MP rear camera and a 5MP front facing camera. It is powered by a 64-bit Qualcomm Snapdragon 808 processor and it is packed with 3GM RAM.

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A common theme in all the leaks of Venice so far is that the device will have a slider keyboard. Evan Bass first displayed a rendering on Venice in August and Venture Beat showed what appeared to be high-quality images of the device in late August. More importantly, it appears that Venice will run on Google’s Android OS as opposed to running on native BB10 OS. It is no longer news that the firm is working on an Android phone and John Chen has hinted that the need to monetize apps is driving the courtship with Android.

Analysts maintain rating

In view of the buzz surrounding BlackBerry(NASDAQ:BBRY), analysts at Scotiabank have maintained their “sector perform” rating on the stock as it prepares to release Q2 2016 results on Sept 25.. Scotiabank believes that the firm can succeed in its turnaround plan and they have a $12 price target on the stock. Other analysts think that the firm would perform beyond the market this year. For instance, analysts at RBC Capital slashed their price target on the stock from $11 to $10 as they also set a “Sector Perform” rating. Analysts at Raymond James also dropped their price target from $11 to $10.25.

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Victor Alagbe

Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.

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