Toronto: Trade analysts have called BlackBerry a broken brand as its maker Research in Motion’s (RIM) shares dipped by over 10 per cent on Friday. Shares of RIM plunged by 10.26 percent to USD 56.08 on the Toronto Stock Exchange on Friday after gloomy forecast by the Canadian wireless company for the current quarter.  

An analyst said that the BlackBerry maker might be a lost cause with its best days behind it after its market share fell to 22 per cent from 40 per cent.

On account of its declining sales in the booming smart phone market which posted 50 per cent growth over the previous year, a research analyst with Sanford C. Bernstein Ltd, Pierre Ferragu termed BlackBerry a 'broken brand'.

Rim stock is likely to slip as low as USD 45, he said.

'In the context of the US market, BlackBerry isn't competitive anymore. Going forward, we expect consumer awareness of the superiority of Apple and Android phones to grow very fast in the rest of the world’ he added.

Sales witnessed a declining trend in North America, which wouldn't necessarily be a problem: growth shifting from mature to newer markets makes sense. But the reality is that North America isn't a mature market at all for smartphones,'' he said.

'We also expect these very same competitors to expand fast in lower price points. In such a context we would expect RIM's trajectory in international markets to get closer to the one observed so far in North America. ''The National Post also quoted Brian Modoff, analyst with Deutsche Bank in San Francisco, as downgrading RIM to 'sell,' cutting his price target to $50 from $60.

'We have remained neutral on the stock, in part, on the view that their new QNX OS could prove to be a viable competitor. We no longer see it this way’, Modoff was quoted as saying,

'RIM will fragment itself as they support multiple run-times. The company also looks set to see meaningful margin compression as gross margins for the PlayBook dilute corporate averages and they grow operating expenditures to support the new products.''

With no QNX on BlackBerry smart phones until 2012, Modoff said RIM is likely to lose its market share to Android smart phones.