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June 24, 2016 12:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/_qMXUd74Vds/blackberry-remains-committed-to-smartphone-business-despite-670m-net-loss-in-last-three-mo
BlackBerry Remains Committed To Smartphone Business, Despite $670M Net Loss In Last Three Months
AchilleTalon writes: BlackBerry CEO John Chen refuses to give up on the company's hardware business despite lackluster sales of its first Android-powered smartphone, the Priv. The Canadian smartphone maker reported a $670 million net loss in the first quarter of its 2017 financial year, but said its recovery plan for the year remains on track. Chen, who has stated the company's No. 1 goal is to make its smartphone device business profitable this fiscal year, said he expects the company's new mobility solutions segment to break even or record a slight profit during the third quarter, which ends Nov. 30, 2016. During BlackBerry's first quarter -- second full quarter to include Priv sales -- the company sold roughly 500,000 devices at an average price of $290 each, he said, which is about 100,000 smartphones fewer than the previous quarter and about 200,000 fewer than two quarters earlier. Previously, the company said it needs to sell about three million phones at an average of $300 each to break even, though Chen indicated that may change as the software licensing business starts to contribute to revenue.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/_qMXUd74Vds/blackberry-remains-committed-to-smartphone-business-despite-670m-net-loss-in-last-three-mo
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