BlackBerry lost almost $1 billion in one quarter due mostly to the failure of the BlackBerry Z10. BlackBerry said they would write down $934 million in unsold Z10 inventory. The company had pinned its future to the release of its BlackBerry 10 OS, and the BlackBerry Z10 was the first phone the company launched with its new OS. The world has spoken, and it's been straight downhill for BlackBerry.
BlackBerry is going private, but it's still unclear whether they can recover at all. The world does not seem interested in BlackBerry anymore, and the company seems to be spinning its wheels.
While BlackBerry said that 5.9 million BlackBerry phones were sold to customers during the quarter, a large percentage of them came from inventory that had been shipped to wholesalers and carriers earlier. During the last quarter, BlackBerry shipped just 3.7 million phones. Most of them, the company said, were from an older model line that it now plans to phase out.
BlackBerry is going private, but it's still unclear whether they can recover at all. The world does not seem interested in BlackBerry anymore, and the company seems to be spinning its wheels.