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28 Jun 03:59Mobile tech

BLACKBERRY’S LOSS IS NOW $670MILLION

BLACKBERRY’S LOSS IS NOW $670MILLION

Blackberry has said that they have a $670million net loss in last three months which is almost the triple of the loss they made in the previous quarter.

The reason they have reached this huge loss is because of the write-down of some assets and restructuring expenses.

Even with this huge loss, the company remains positive and states that the whole year loss will be lower than they expected.

Chief executive of Blackberry, John Chen has said that strong growth in software and greater efficiencies will trim their losses.

By his estimation, the losses will be around 15 cents per share.

Blackberry is having less than 1% of the global smartphone market and moving away from the sales. Instead, they are moving towards the device software which is used by companies and governments.

According to the, company authorities, the sales of Blackberry handsets are lower than the projection. Their average selling price is $290.

 



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