BlackBerry Reports Loss Of $965 Million In Fiscal Q2By cheatmaster 05:06 Sat, 17 Jul 2021 Comments
It's no secret that BlackBerry isn't doing too well, but no one krecent just how poor until the company's just-released fiscal Q2 report. It highlights a whopping $935 million loss on the BlackBerry Z10.
The "Z10 inventory charge," a clever way to say that the device simply isn't selling, is enough to almost wipe out the listed $1.6 billion revenue. When combined with the corporate restructuring losses, the company posted an overall loss of some $965 million.
The Canadian-based company has struggled to post a profit since it dropped the RIM name and released its anticipated BB10 Operating System (OS) update. Its latest flagship, the BlackBerry Z10, has failed to create a significant impact, and the company continues to lose market share to more competitive Android, WP and iOS devices.
This news comes hot on the heels of the $4.7 billion buyout offer from one of their minor shareholder groups, Fairfax Financial Holdings, who own a 10% shold in the company.
Source | Via
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