Beleaguered Blackberry reports $965 million second quarter loss

“Blackberry has reported a second quarter net loss of $965 million following a slump in sales,” BBC News reports. “It also announced 4,500 job cuts in a bid to stem those losses. Earlier this week Blackberry agreed to be bought by a consortium led by Fairfax Financial, its biggest shareholder, for $4.7 billion.”

“The company’s financial problems came to a head this year following disappointing sales of its new Z10 smartphone. Sales were so poor that Blackberry had to write off $934m in the second quarter to account for the weakness,” The Beeb reports. “The firm reported total sales of $1.6bn compared with $3.1bn in the same quarter of 2012, a near 50% fall.”

The Beeb reports, “In the second quarter, Blackberry said it sold 3.7 million Blackberry smartphones. That compares with 7.4 million shipments in the same period of 2012. To put that into perspective, Apple sold nine million of its new iPhone 5S and 5C models on the opening weekend of sales.”

Read more in the full article here.

MacDailyNews Take: Thanks to The Beeb’s boot to beleaguered, destroyed BlackBerry’s face there at the end, we’ll just leave it at that.

[Thanks to MacDailyNews Reader “Alan Watson Featherstone” for the heads up.]

Related articles:
T-Mobile USA stops stocking beleaguered BlackBerry’s phones – September 26, 2013
Amateur hour is over: Beleaguered BlackBerry sold to Fairfax Financial-led consortium – September 23, 2013
Beleaguered BlackBerry’s CEO calls Apple’s iPhone old news – March 18, 2013

34 Comments

  1. So sad, I doubt that anyone at Apple is happy about this. A ounce big competitor and innovative was destroyed because it failed to respond to Apple’s disruption (innovation) of the smartphone padrigam.

    A once innovative and dynamic company lost because of “Big Company” strategies. BBs may have a great system but who cares ? Complexity rules again.

    1. “Big Company” strategies? What do you thing RIM used prior to the iPhone being released? RIM locked companies into its proprietary email and handset system, keeping companies from moving to Palm, Microsoft, etc.

      Blackberry is on its deathbed because it failed to respond to Apple’s paradigm shift. That’s the one thing you have to hand to Google: It immediately recognized how much the iPhone was going to change mobile phones and moved very quickly to change Android to compete.

      Of course, Google stole and cheated its way to competition, but that’s been hashed out before and will continue to be argued about for years to come.

  2. Now we’re just kicking a dead horse. Can’t wait for the day when the headlines start with “Beleaguered Google…” or “Beleaguered Amazon…” Those two need a kharma bitchslap.

    1. Won’t see “Beleaguered Google”. If nothing else, Google is constantly trying new things and just released a new algorithm for its search engine.

      Now Amazon may be another story. It’s profit margins are so thin that a few bad quarters could cause serious harm to its ability to operate.

  3. Agree with Grizz. Blackberry was a cool company. They made some stupid remarks regarding plastic keyboards and Apple entering the phone market, but they never thieved like Google and most dispicable Samsung. Basically they were unprepared for the flood and became cannon fodder. Their only real crime was falling asleep at the perverbial wheel (maybe the scrool wheel?).

  4. Many crackberry handsets were poor quality, at work I have seen crackberry owners frustrated by the battery problems, freezing where nothing worked until the battery was removed, put back and switched on again, bad OS, BBM used as a tool during London riots, keyboard problems, track wheel getting dirt and unresponsive problems, oh boy, it was a cracker. However saying that they didn’t rip of apple as Samsung did, however in have seen a crackberry phone what ever model it is that had a silver bezel around it, a copy go iPhone 3G

    1. Blackberry is getting bought out. That always makes the stock go up.

      The sooner you stop trying to equate stock price and movement with the news, the sooner your migraine will go away.

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