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BlackBerry Shares Plunge After Touch-Screen Model Flops
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Even die-hard BlackBerry fans are beginning to waver after the Canadian smartphone maker disclosed disappointing demand for a touch-screen device viewed as critical to attracting younger users.
BlackBerry shares plunged 28 percent on June 28, the biggest decline since 2000, after the company reported profit and phone shipments that missed analysts’ estimates and revenue hurt in part by Venezuela’s currency controls. The culprit: a shortfall in sales of the flagship Z10 handset, a new model designed to go head-to-head against Apple Inc.’s iPhone and devices using Google Inc.’s Android.