Thursday, January 21, 2021
Techiexpert.com
No Result
View All Result
  • Login
  • Register
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging
Techiexpert.com
No Result
View All Result

Blackberry reports $670 mn loss, might exit smartphone business

Kirti Sharma by Kirti Sharma
June 26, 2016
in Tech news
Reading Time: 2min read
A A
0
Blackberry reports $670 mn loss, might exit smartphone business

A Blackberry sign is seen in front of their offices on the day of their annual general meeting for shareholders in Waterloo, Canada in this June 23, 2015 file photo. BlackBerry posted a fiscal fourth-quarter net loss on April 1, 2016, on the back of restructuring and acquisition related costs. REUTERS/Mark Blinch/Files

9
SHARES
128
VIEWS
Share on FacebookShare on Twitter

What at one time was a major status symbol, is now a thing that has no takers at all. That’s Blackberry’s current situation for you, in a nutshell.

The Canadian mobile company has managed to sell a mere 5 lakh phones all around the world in the first fiscal quarter of the year 2016. This figure is one lakh less from the six lakh figure in the previous quarter. The decline costed BlackBerry a loss of a whopping $670 million, which unfortunately is also the company’s biggest loss in a period of over two years.

Although much of the company’s loss was down to restructuring charges, the sales also took a major hit and fell down by 39 per cent on a year earlier to $400 million.

The last couple of years have seen Blackberry trying hard to revive its handset business. The Priv smartphone running Google’s Android operating system was a step towards that direction. But, unfortunately, the masses seemed to have moved on as the early sales figures of the phone have been rather than disappointing than expected.

ADVERTISEMENT

Seeing the markets current behaviour towards the the once-famous Blackberry handsets, the mobile company is now considering stop making the phones altogether by September this year.

Speaking at Blackberry’s annual meeting, BlackBerry CEO John Chen said, “The device business must be profitable, because we don’t want to run a business that drags onto the bottom line.” He further added, “I don’t personally believe handsets will be the future of any company.”

Currently, Blackberry’s software business is achieving new scales and traction, resulting in its robust growth and increased market share than ever. So, for now, the company seems to be focused on building a business that is profitable, rather than trying hard left and right to make a dying one survive.

In fact, the Canadian company recently entered into a partnership with HCL Infosystems in its efforts to expand the channel and distribution network reach of Blackberry’s software products and services in the Indian sub-continent.

 

Tags: Smartphones
Share4Tweet2Share1Pin1
Kirti Sharma

Kirti Sharma

A technology and Bollywood junkie, she is always ready with her iPhone to jot down her ideas wherever and whenever she can. Have something to share? Shoot an email to her at skirti100@yahoo.co.in

Related Posts

Best books on Windows 10 for beginners
Tech news

Best books on Windows 10 for beginners

January 20, 2021
Identity Verification Service: A Counter-Fraud Technology For Online Businesses
Tech news

Top 6 Identity Verification Methods to Verify the Identity of Customer

January 20, 2021
Shift Your Conferences Into Webinars: The Dawn Of A New Era
Tech news

Boost Business Growth by Using Webinar Platforms

January 19, 2021
Chatbot in WordPress
Tech news

How chatbots use AI to attract more customers?

January 19, 2021
How Do Advancements in Live Streaming Technology Level Up Gaming?
Tech news

How Do Advancements in Live Streaming Technology Level Up Gaming?

January 19, 2021
Second Edition of SAP-CIIE Startup Accelerator Program Announced
Tech news

5 Ways To Grow Your Startup’s Visibility Online

January 18, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Latest Stories

Best books on Windows 10 for beginners
Tech news

Best books on Windows 10 for beginners

by Sony T
January 20, 2021
5 Areas of Your Business That Can Be Streamlined By Big Data
Big Data

5 Areas to Streamline Your Business with Big Data

by Srikanth
January 20, 2021
Identity Verification Service: A Counter-Fraud Technology For Online Businesses
Tech news

Top 6 Identity Verification Methods to Verify the Identity of Customer

by John Murphy
January 20, 2021
Shift Your Conferences Into Webinars: The Dawn Of A New Era
Tech news

Boost Business Growth by Using Webinar Platforms

by Sony T
January 19, 2021
Chatbot in WordPress
Tech news

How chatbots use AI to attract more customers?

by Sony T
January 19, 2021
Load More
Techiexpert.com

© 2020 All Rights Reserved

  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Tech news
  • Startups
  • AI
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • ML
  • Blogging

© 2020 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.