Blackberry has announced a $950 million in loss. The company has been struggling a lot with dropping market shares for a long time after the advent of iOS and Android devices. Company’s Blackberry 10 which was supposed to bring the company out of this trouble has also failed in doing so. Blackberry also added that it will be cutting around 4500 jobs, which is about 40% of its global workforce. Thats a huge number for any company.
The numbers are pretty scary if you were wondering. The company expects a loss of somewhere between $950 million and $995 million for the quarter, on revenue of around $1.6 billion. Most of that loss is a charge of $930 to $960 million on unsold inventory, and Blackberry says its mainly because of the Z10. Yes, the same Z10 that was supposed to be their comeback phone. They recognised revenue on only 3.7 million smartphones in the quarter.
Blackberry now says it will focus on enterprise and prosumer users and cut its lineup from six devices to four, two high end and two entry level in touch and QWERTY. CEO Thorsten Heins called these “difficult, but necessary operational changes”. Shares were halted for a while and then closed down around 17%. The full results come out on September 27th, so we’ll know more then. Sad to see this happening to Blackberry, but honestly we all saw it coming.
Partly reconstructed with AI. This post’s full text was lost when the site went offline. Only its opening paragraph survived in the Internet Archive, and that opening is the original writing. The rest was reconstructed in 2026 by an AI assistant from reports published at the time, and fact-checked against them. Sources used: finance.yahoo.com, techcrunch.com, bgr.com, theregister.com.
