1. #1

    Join Date
    Aug 2011
    Lahore, Pakistan
    Blog Entries

    BlackBerry Financial Status Shaking, Business Phone Z10 Facing Huge Loss

    Due to lack of money will not be able to close the BlackBerry itself or business phone.
    Heading BlackBerry, John Chen (John Chen) said that the company is no longer sold, and "any reports of its death have been greatly exaggerated." But the future of the Canadian smartphone maker is still vague, given the losses and high rates of "burning money."

    At the end of the second fiscal quarter (July-August 2013) in bank accounts BlackBerry accumulated cash in the amount of $ 2.6 billion, which is a whopping $ 500 million less than three months earlier.


    Former President and CEO Thorsten Heins (Thorsten Heins) considered one of the main task of maintaining the stock of money earned. Top manager was able to execute it by cutting costs and optimizing production work.

    Haynes also had high hopes for smartphones running the new BlackBerry OS 10, but the demand for them was low, resulting in the head left the company with a huge loss of nearly $ 1 billion related to the write-off of unsold smartphones Z10.


    According to the analyst Canaccord Genuity Michael Wakeley (Michael Walkley), not selling all smartphones BlackBerry, including the latest models. In this regard, loss of Canadian corporation can grow for the third fiscal quarter, which ended for her in November. Quarterly Report will be published in the coming Friday, December 20.

    In light of the failure of the BlackBerry mobile device market is increasingly rumored refusal of registration of smartphones. John Chen has denied these talks, saying that the phone business is one of the main activities of his company, along with corporate services.


    Analyst Ehud Gelblum (Ehud Gelblum) of Citigroup believes that the BlackBerry can not get rid of the production of "Mobile", since she had not enough money. Moreover, the closure of the whole company needs about $ 4 billion, which is not even in the company registered a $ 1 billion investment involved, the expert said.

    Investors' concerns regarding the reduction of cash and appointment of Chen as interim CEO provoked a drop in shares of BlackBerry. The company's securities fell by about 22% since the change of leadership producer.

    In addition, it became known today that two more top managers BlackBerry lost their jobs due to the ongoing restructuring.

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