BlackBerry Revenue Drops 49% Compared to Previous Quarter

BlackBerry Revenue Drops 49% Compared to Previous Quarter(Ping! Zine Web Tech Magazine) – Things continue to be a downward spiral for struggling smartphone maker BlackBerry.

On Friday, the company posted its latest quarterly results, $1.6 billion – numbers representing a 49% decrease compared the $3.1 billion it earned during the previous period.

In a press release, BlackBerry CEO Thorsten Heins expressed disappointment while looking ahead.

“While our company goes through the necessary  changes to create the best business model for our hardware business, we continue to see confidence from  our customers through the increasing penetration of BES 10, where we now have more than 25,000 commercial and test servers installed to date, up from 19,000 in July 2013. We understand how some of the activities we are going through create uncertainty, but we remain a financially strong company with $2.6 billion in cash and no debt. We are focused on our targeted markets, and are committed to completing our transition quickly in order to establish a more focused and efficient company,” Heins commented.

The announcement arrives after BlackBerry recently confirmed mass layoffs, noting it’d lose as many as 4,500 employees.

The once dominate smartphone maker is also assumed to soon go private. The company’s largest shareholder, Fairfax Financial Holdings, has signaled its intentions to buy BlackBerry.

Earlier this year, BlackBerry unveiled its BlackBerry 10 lineup, an offering that obviously hasn’t done as well as the company would have liked.