BREAKING NEWS

Metro

World

Spiritual

29 Sep 2016

Blackberry Stops Production Of Phones...See Shocking Reason

Blackberry phones took another step toward the consumer electronics dust bin. The company says that it will stop making the devices that used to be a status symbol for the Hollywood elite, electing instead to outsource manufacturing.
The new strategy will enable Blackberry to “focus all of our efforts on where we can deliver differentiation in software and security” which is “aligned with where the market is going,” CEO John Chen said as the company released Q2 earnings.

Sales fell short of Wall Street forecasts, but Blackberry shares rose 5.7% after the company raised its loss forecast for the fiscal year to at most five cents a share vs analyst expectations for 15 cents.

Some of the improvement is due to what Chen projects as “reasonable savings” from the move to license phone manufacturing to an Indonesian joint venture.

Blackberry was expected to ship 2.4 million phones this year, putting it far behind industry leaders Samsung (324.2 million), Apple (202.5 million), and LG (58.6 million), Macquarie Research projected in June.

In July, Blackberry said it would stop production of BlackBerry Classic, the last of the smartphones with a physical keyboard it has made since 2003.

Chen also disclosed that CFO James Yersh, who has been at the company since 2008, is leaving “for personal reasons.”

Blackberry’s stock is down 10.2% in 2016, and more than 60% for the last five years.

THINK YOUR FRIEND WOULD BE INTRESTED? SHARE THIS STORY USING ANY OF THE SHARE BUTTON BELOW ⬇

PLACE YOUR TEXT ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Loading...

SHARE YOUR STORY WITH US VIA EMAIL: INFO@247NIGERIANEWSUPDATE.CO

RECEIVE NEWS VIA OUR WHATSAPP, KINDLY TEXT +234 701 056 0394 TO ADD YOU

CLICK HERE TO JOIN US ON OUR YOUTUBE CHANNEL FOR NEWS UPDATE

CLICK HERE TO JOIN US ON TWITTER FOR INSTANT NEWS UPDATE: @247NGNEWSUPDATE

CLICK HERE TO JOIN MILLIONS AROUND THE GLOBE TO READ NEWS ON OUR FACEBOOK FAN PAGE

FOR INSTANT UPDATES ON INSTAGRAM CLICK HERE

RECEIVE INSTANT NEWS UPDATE VIA OUR BBM BROADCAST: D3EDEFDF

Post a Comment

 
Copyright © 2015 247 Nigeria News Update
Website by Tech Guardian