“BlackBerry, the troubled Canadian smartphone company, just reported its quarterly results,” Arik Hesseldahl reports for AllThingsD.
“Its loss, on a GAAP basis, came out to $4.4 billion on revenue of $1.2 billion. That works out to a per-share loss of $8.37. The loss was the result of a huge $2.7 billion charge against assets, and another $266 million restructuring charge,” Hesseldahl reports. “After backing out those charges, the company lost $354 million, or 67 cents a share. It exited the quarter with $3.2 billion in combined cash and short-term investments. Sales fell by 56 percent compared to the year-ago quarter.”
“The company also said it has cut a five-year strategic partnership with Foxconn, the China-based contract manufacturing giant that builds much of the world’s consumer electronics,” Hesseldahl reports. “Under the terms, Foxconn will help BlackBerry develop new phones, build them, and then manage the inventory. The first target of the effort will be a phone aimed at the Indonesian market.”
Read more in the full article here.
MacDailyNews Take: Another piece of iPhone roadkill inexorably rots away.
Goog morning, Waterloo! Enjoy your breakfasts!
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]
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