Blackberry faces a huge downfall, Blackberry Z10 lost $965 million in Q2

Jasmina Lozevska September 29, 2013 0

We have terrible news for Blackberry fans, consumers and most importantly the shareholders (if any). The Canadian smartphone manufacturer had been having a rough time since a long time, but now the company has come up with figures that might surprise you.

We all knew that Blackberry had been having a lot of problems trying to improve sales, and the results are finally out. The company has officially released the fiscal Q2 report and the numbers aren’t impressive at all. The reason for the same is that the company has suffered a loss of $935 million on the Blackberry Z10.

Blackberry Event

According to the information provided in the report, Blackberry had an overall revenue of $1.6 billion, but the ‘Z10 inventory charge’ seems to have taken away all the money. The company did say that it suffered an overall loss of about $965 million but did not directly mention that the loss was related to the Blackberry Z10.

Right from the start of this year, Blackberry has been trying to come up with new ideas and strategies to get back market share and attract new consumers. The company came up with a new operating system (BLACKBERRY 10), a new app store (BLACKBERRY WORLD) as well two new smartphones (BLACKBERRY Z10 and BLACKBERRY Q10). The company even conducted seminars and training sessions for potential customers in order to give them an idea about what the new operating system will look like. The company even changed its name from Research In Motion (RIM) to simply ‘Blackberry’ in order to dismiss confusion and to stop being called as ‘Blackberry makers.’

Recently, there had been reports saying that Blackberry is up for sale. And the deal has finally been fixed, Fairfax Financial Holdings, who already own a 10% stake in the company decided to grab Blackberry for $4.7 billion. Will we get to see a new and refreshed Blackberry very soon or will Android and iOS completely take over the smartphone market? Only time has all the answers, so we will just have to wait and watch.

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