Struggling Blackberry Loses more than $238m – More bad news for struggling Blackberry. Even their latest Android based handset, the Priv didn’t help much.
“BlackBerry sales fell by almost $200m in the three months to the end of February in a bigger-than-expected slide that sent shares down almost 8%. The Canadian company said smartphone sales had been below projections in the quarter.
Chief executive John Chen blamed delays in negotiations with mobile networks about its Android-based Priv handset. Blackberry reported revenue of $464m, but analysts had expected $563m. It swung to a net loss of $238m for the quarter, compared with a profit of $28m for the same period last year.
Mr Chen said cost-cutting meant the company now needed to sell only 3 million devices a year – down from a previous estimate of 5 million – at an average of $300 apiece to break even on handsets.”
Source: BBC
