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Blackberry suffers £55 million loss – Blackberry 10 handsets not selling like hotcakes

News   •   Jul 01, 2013 12:54 BST

We all know Blackberry is in trouble, which is why it is essential its new software BB10 running on devices such as the Z10 (check out Blackberry Z10 here) and the Q10 (check out Blackberry Q10 here) does well. Unfortunately, BB10 isn’t doing so well. The company has suffered a £55 million loss.

The news comes to us courtesy of CNN Money (check it out here). CNN Money reports, “The Canadian smartphone maker posted a surprise loss after shipping just 2.7 million new BlackBerry 10 devices in its fiscal first quarter, which ended June 1. Wall Street analysts had widely expected a profit and about a million more smartphone shipments.

“As a result, BlackBerry shares tanked 28% on Friday.”

CNN Money adds, “Despite the troublesome report, BlackBerry CEO Thorsten Heins struck an optimistic tone on a conference call with analysts on Friday. Heins spoke of “investing in growth, a “foundation of innovation” and being “still in our launch cycle.”

Blackberry has faced criticism over spending too much on the Blackberry 10 launch. Heins quickly defended his company’s actions. Heins said, “We want total penetration of the market ... to do that you need to invest in marketing, you need to invest in promotions. And we’re not done yet. There’s more exciting devices coming, and we will spend to market those as well.”

Is this the end for Blackberry? Share your thoughts through a comment below.