BlackBerry
Obatuga Elisha
It is a exposure day for the smartphone maker as it lays out its official fiscal second-quarter results. BlackBerry offers no real surprises as it posted a fiscal second-quarter loss of nearly $1 billion amid the continuing struggles of its smartphones in the marketplace.
The Canadian company says, it lost $965 million, compared with a year-earlier loss of $235 million and also make known that it revenue fell 45 percent to $1.57 billion, from $2.86 billion a year ago.
The official results come a week after BlackBerry released preliminary figures and says it would cut roughly 40 percent of its staff as it shifts its focus away from consumers and more towards business customers.
However, the biggest reason for the dramatic loss was the $934 million write-down in inventory of the BlackBerry Z10. Obviously, few people bought the Z10, which was the company’s first phone to run the next-generation BlackBerry 10 operating system.
The newer BlackBerry phones as a whole have not seems to produce for consumers. The company says it shipped 3.7 million BlackBerrys, but a majority of them were devices running older software, which remain popular in emerging markets because of their low price.
