RIM earning estimates lower

Research In Motion’s earnings are likely to fall short of expectations in the coming quarters as the BlackBerry maker moves toward the launch of its new devices late in the year, according to an analyst at BMO Nesbitt Burns.

The capital markets division of the Bank of Montreal scaled back earnings estimates for RIM on Wednesday, adding to a growing number of analysts who project further troubles for the Waterloo, Ont.-based company.

Tim Long of BMO said in a note to clients that he doesn’t expect RIM to unveil the next-generation Blackberry 10 series until the November quarter, and that the lingering uncertainty of the exact timing could keep customers on the sidelines waiting for the new product.

“We believe this will lead to weak device sales for the May and August quarters,” Long wrote.

“Given the lack of a new product, we expect unit and pricing pressure for the existing products.”