{"id":162382,"date":"2013-12-21T23:29:25","date_gmt":"2013-12-21T23:29:25","guid":{"rendered":"http:\/\/151.106.38.4\/2013\/12\/21\/blackberry-posts-q3-loss-of-4-4-billion\/"},"modified":"2013-12-21T23:29:25","modified_gmt":"2013-12-21T23:29:25","slug":"blackberry-posts-q3-loss-of-4-4-billion","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2013\/12\/21\/blackberry-posts-q3-loss-of-4-4-billion\/","title":{"rendered":"BlackBerry posts Q3 loss of $4.4 billion"},"content":{"rendered":"

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BlackBerry reported a massive $4.4 billion loss in the third quarter and a 56 percent drop in revenue in its first quarterly report under new chairman and chief executive John Chen. Despite the results, Mr. Chen said on a conference call with analysts that BlackBerry \u201chas a really good shot\u201d of turning a profit in 2016 and management will try its best to achieve the goal. Mr. Chen later laughed when an analyst wished him the \u201cbest of luck.\u201d<\/div>\n
The former Sybase CEO is credited with turning around Sybase, a data company that was sold to SAP in 2010. Chen said reviving BlackBerry will be his most \u201ccomplicated\u201d challenge but noted, however, that the company has $3.2 billion in cash, which will \u201cdefinitely allow us to engineer our turnaround.\u201d BlackBerry also announced Friday that it\u2019s entering into a five-year partnership with Foxconn, the Taiwanese company that assembles products in vast factories in China. Foxconn, known for its manufacturing contract work on Apple\u2019s iPhones and iPads, will jointly design and manufacture most BlackBerry devices and manage inventory of the devices in an agreement that will offload much of BlackBerry\u2019s manufacturing costs. \u201cI\u2019m hoping we never have to have a conversation going forward about inventory write downs,\u201d Mr. Chen said. BlackBerry reported revenue of $1.2 billion, down from $2.7 billion in the same quarter last year.<\/div>\n
Mr Chen has said the company \u201cis very much alive\u201d but is putting more emphasis on Blackberry\u2019s software business than its hardware business.<\/div>\n
\u201cI\u2019ll be happy to have a breakeven or a low margin device business and then have that help us to monetize software,\u201d said BlackBerry said it sold just 1.9 million smartphones in the quarter compared to 3.7 million in the previous quarter. Most of those were old BlackBerry 7 devices.<\/div>\n
 This year\u2019s launch of BlackBerry 10, its revamped operating system, and fancier devices the touchscreen Z10 and Q10 for keyboard loyalists was supposed to rejuvenate the brand and lure customers. But the much\u2014delayed phones failed to turn the company around and have led to a billion dollar loss last quarter and a $1.6 billion loss in the third quarter.<\/div>\n","protected":false},"excerpt":{"rendered":"

BlackBerry reported a massive $4.4 billion loss in the third quarter and a 56 percent drop in revenue in its first quarterly report under new chairman and chief executive John Chen. Despite the results, Mr. Chen said on a conference call with analysts that BlackBerry \u201chas a really good shot\u201d of turning a profit in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[667],"tags":[],"class_list":["post-162382","post","type-post","status-publish","format-standard","category-business"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/162382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=162382"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/162382\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=162382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=162382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=162382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}