Home Business NewsBusiness BlackBerry might quit smartphone market after losses widen

BlackBerry might quit smartphone market after losses widen

by LLB Reporter
24th Jun 16 5:30 am

BlackBerry sales flop

BlackBerry, once the darling of smartphone users, has reported a $670m (£450m) net loss in the last three months.

Restructuring costs have led to losses almost tripling in the previous quarter.

If these one off costs are excluded, Blackberry made a $14m profit.

The Canadian phonemaker is rumoured to be quitting the smartphone market as losses widen.

Chief executive John Chen said: “The device business must be profitable, because we don’t want to run a business that drags onto the bottom line. We’ve got to get there this year.”

“I don’t personally believe handsets will be the future of any company,” he added.

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