Industry watchers said BlackBerry's move to shift its focus to enterprise customers was a desperate move. They said it would only hasten the company's decline. They said the drastic move could cause the Canadian smartphone firm's business customers, telecom partners and consumers to turn their backs on BlackBerry.

GMP Securities Analyst Deepak Kaushal told Reuters, "Perception is nine tenths of reality and if customer and supplier confidence continues to fall it doesn't matter how much cash they have on the balance sheet. Things could get worse." Other brokerages did not seem confident about the restructuring move either. According to Reuters, nine brokerages devalued the company's stock to as low as USD 5 two weeks ago.

Even as National Bank Financial agreed on the smartphone maker's move to focus on enterprise customers, they still believed a recovery was not possible. In a research note, the firm's analysts told Reuters ,"We have been steadfast in our position that BlackBerry should downsize and focus on the enterprise, a strategy the company will now pursue. Our view now is that any recovery is very unlikely."