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Blackberry Reports Net Loss of $670 Million This Year

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This year, Blackberry has faced the toughest part as it loses $670 million, resulting from a $501 million write-down on the value of its handset business, a $47 goodwill impairment payment, and $41 million worth of inventory write-downs, among a few other charges.

Last year the company released its first Android flagship, which was so disappointing release for the business of the company. The company has to try to overcome the toughest situation – the Canadian smartphone maker launched the BlackBerry Priv running on the Android platform to stay competitive in the market. In this quarter, the device sold around, and the business has seen 5,000,00 units with some decent revenue from an average selling price of $290.

The company CEO, John Chen, said, “We are at a point where our business is extremely efficient, and we no longer really are making hardware. We are really a hardware design house”.

Although he declared that blackberry will introduce two cheaper Android devices this July, but will also focus on the device hardware to make the device business profitable. The company is taking the necessary steps to bring its glory to the smartphone market, though its primary focus has been concentrated on the software and service.


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