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BlackBerry stops making smartphones
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BLACKBERRY Ltd will outsource manufacturing of its once-core hardware, including its flagship smartphone, the Canadian company said yesterday as it reported another loss and sharp drop in revenue.
The company also said Chief Financial Officer James Yersh would leave effective October 1 for personal reasons. It announced former Sybase executive Steven Capelli as his successor.
The net loss came to US$372 million, or 71 US cents a share, on revenue of US$334 million, as the company booked US$147 million in charges from its reorganization.
A year ago, it reported a profit of US$51 million, or 24 US cents a share, on revenue of US$490 million.
Excluding one-time items, the company said it broke even. On that basis, analysts had on average expected an adjusted loss of 5 US cents a share on revenue of US$393.75 million.
The company raised its adjusted earnings outlook for the year to a range of break-even to a 5-cent loss.
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