Following Research in Motion’s (RIMM) launch of the BlackBerry Bold 9790 and BlackBerry Curve 9380 (set to hit stores just before the holiday season), Canaccord Genuity technology analyst Michael Walkley lowered his price target to $21 from $28, noting slowing sellthrough trends for the new BlackBerry 7 smartphones the past couple weeks. Mr. Walkley said:

“. . .with the launch of the iPhone 4S, increasingly price competitive Android smartphones, improving Windows smartphones, and the launch of the Amazon [AMZN] Kindle Fire tablet, we anticipate increasing competition across all tiers of RIM’s products in C2012.”

He added, “Since RIM recently delayed its QNX-based PlayBook OS 2.0 [for Blackberry tablets] new release citing BES [Blackberry Enterprise Server] software integration difficulties, we believe this suggests increasing execution risk to launching new BBX smartphones in the near-term. In fact, we expect BBX BlackBerry devices shipping around mid-C2012. As a result, we anticipate slowing high-end BlackBerry sales at both the enterprise and consumer channels over the next several quarters.”