Online radio and music streaming group 7Digital has dropped 12% after changes at its main customer Blackberry.
The company, which joined Aim last month via a reverse takeover of UBC Media, is down 2.25p at 16p as Blackberry dropped the music and video sections of Blackberry World - supplied by 7Digital - and replaced them with the Amazon Apps Store.
7Digital said the move should not hit current market expectations for its financial performance, and it understood Blackberry would continue to use its services to allow users to gain access to music they have already stored. Chief executive Simon Cole also said the company was working with Blackberry on an alternative solution for music purchase.
Analyst Lorne Daniel at finnCap said:
This news is not altogether surprising given Blackberry's toils and its move towards the enterprise market; it is 7digital's largest single customer at present but was in any case expected to be overtaken by the recently announced deals with ROK and Guvera. We make no changes to our forecasts or 38p target price.
