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BlackBerry is still facing sales crises and another loss of $423 million

BusinessBlackBerry is still facing sales crises and another loss of $423 million

BlackBerry is still facing sales crises

London: Despite slashing some 4,500 jobs, or 40 percent of its workforce last year, BlackBerry is still facing sales crises and  another loss of $423 million is reported in the fourth quarter of its 2014 fiscal year.

Revenues fell to $976 million in the fourth quarter — down from $2.7 billion 12 months earlier. Sales of smartphones fell from 1.9 million to 1.3 million, the company said. It said it delivered some 3.4 million smartphones in the quarter, but 2.3 million were the older models using its BlackBerry 7 operating system.

Despite slashing some 4,500 jobs, or 40 percent of its workforce last year, BlackBerry is still facing sales crises and  another loss of $423 million is reported in the fourth quarter of its 2014 fiscal year
Despite slashing some 4,500 jobs, or 40 percent of its workforce last year, BlackBerry is still facing sales crises and another loss of $423 million is reported in the fourth quarter of its 2014 fiscal year

Last year, the company introduced the BlackBerry 10 operating system in an effort to regain ground lost to rivals such as Apple and others using the Google Android operating system. In December, BlackBerry unveiled a manufacturing partnership with Taiwan-based Foxconn and a revamped organizational structure. The deal transfers to Foxconn the manufacturer and inventory management and allows BlackBerry to focus on software and services.

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The company also announced in 2013 it was slashing some 4,500 jobs, or 40 percent of its workforce, as part of the restructuring.

The loss for the fiscal year ending March 1 amounted to $5.9 billion, a huge increase from the loss of $646 million a year earlier. Revenues, meanwhile, slumped nearly 40 percent for the full year to $6.8 billion.

Tags:
Americas, Blackberry, Canada, company, news, shares, smartphone

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Asad Haroon
Asad Haroon
A netpreneur, blogger and above all; A Human :) Asad tweets from @aghaasadharoon

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