This mobile manufacturer is struggling since a long time. It seems that they are finding it difficult to get customers for the BlackBerry 10 platform. They suffered a 64% decrease in the revenue which now accounted to $976 million. Let us see what was the biggest reason for this loss.
BlackBerry`s revenue dropped
Few years ago Blackberry was one of the trusted brand in smartphones for professionals. But slowly people started to use Android and iOS devices. BlackBerry failed to compete with these. Recently they had launched the BlackBerry 10 platform. Their hopes went in vein as people did not liked this platform.
BlackBerry posted a loss of $423 million in the fiscal fourth quarter. Or a loss of 80 cents a share. They had a profit of $98 million a year ago or a rise of 19 cents a share. To make the company profitable they will employ a new management team. Cost cuts are expected including jobs getting slashed.
BlackBerry will try to get Government and Corporate clients and also offer low end devices. So we can expect low-end BlackBerry smartphones. John Chen, CEO of BlackCerry believes that the company will be profitable by 2016 and cash flow will be positive for the next four quarters.
Upcoming smartphones from BlackBerry are the Q20 and the Z3. This Z3 phone will be a low-end device and will enter in Indonesia first. BlackBerry need to revamp their strategies for customer acquisition and we hope that they soon get out of losses. We will keep you updated with the same. Stay tuned!