“We believe key retail partners have seen a significant increase in Z10 returns to the point where, in several cases, returns are now exceeding sales, a phenomenon we have never seen before,” said analysts at Detwiler Fenton in a report.

The most common complaints from customers are that the phone’s user interface and maps application are “unintuitive” and that the device has a tendency to slow down after several hours, the analysts said.

Joe Fersedi, an analyst at ITG, said that in the first 17 days of sales at AT&T, the Z10 is lagging behind almost every other major launch.

“The clear takeaway from the independent dealer channel is that the US launch of the Z10 started poorly and weakened significantly as the days passed—relative to comps at both AT&T and Verizon,” he said in a note.

Pacific Crest Securities on Thursday reiterated its rating on the stock at underperform.

“Even if the Z10 were able to maintain its current sell-through run-rate based on our initial checks, it would still amount to less than 1 million units per month. We believe that a run-rate below that level would make it very difficult for BlackBerry to return to long-term profit growth,” said James Faucette at Pacific Crest.

Have to be honest, I had a Z10 on test for a month and I was pretty impressed with it as a phone. The app store was a joke, but the device itself was lovely.

Did you notice it slowing down?

How can people be returning more phones than they have bought?

How can people be returning more phones than they have bought?

Blackberry are saying it's not true
CLICKY

Since this has come from an analyst, the opposite is most likely to be the truth.