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BlackBerry Posts $4.4 Billion Loss, Will Outsource To Foxconn

Posted by Soulskill on from the but-it'll-be-better-next-quarter-they-promise dept.

iONiUM writes "Today BlackBerry announced a $4.4 billion loss, and a deal with Foxconn to outsource hardware manufacturing. One interesting stat is that 75% of sales were actually older BB7 devices. That said, CEO John Chen says, 'We are very much alive, thank you.' He adds, 'Our "for sale" sign has been taken down and we are here to stay. BlackBerry recently announced it has entered into an agreement to receive a strategic investment from Fairfax Financial and other institutional investors, which represents a vote of confidence in the future of BlackBerry.'"

6 of 141 comments (clear)

  1. Our "for sale" sign has been taken down by Overzeetop · · Score: 5, Insightful

    'Our "for sale" sign has been taken down and we are here to stay.'

    This is the textbook precursor words before a "transition team" chops it up for parts and sells everything off piecemeal. It's right in the MBA manual.

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    Is it just my observation, or are there way too many stupid people in the world?
    1. Re:Our "for sale" sign has been taken down by jellomizer · · Score: 3, Insightful

      I didn't get that Text book.
      Also my MBA classes also seem to actively discourage such actions. That said, it may mean to refocus the company.

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      If something is so important that you feel the need to post it on the internet... It probably isn't that important.
    2. Re:Our "for sale" sign has been taken down by hairyfeet · · Score: 1, Insightful

      Dude what EXACTLY is left to "refocus"? The company has been bleeding money, the only real selling point they had, American made and supported, just went down the shitter and thanks to the NSA nobody in business is gonna trust jack shit when it comes to communications originating in the USA.

      Lets face it, BB is screwed. They sat on ass for too long and let Android and OSX drink their milkshake. Their one chance would be maybe breaking it up for parts be "taking the for sale sign down" translates to "nobody would buy the company" so even that is a no go.

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      ACs don't waste your time replying, your posts are never seen by me.
  2. Re:As an Android Guy by Dzimas · · Score: 5, Insightful

    Engineering is dead. Once the service economy of the U.S.A. implodes, so will these job.

    American engineering is very much alive. The same can't be said for high tech manufacturing.

  3. The real reason stock is up 15% today by JoeyRox · · Score: 5, Insightful

    This $4.4B loss is one of those "throw everything out including the kitchen sink" financial quarters, where a struggling, money-losing public company tries to purge itself and basically write everything off at once, including expenses/charges that may not have happened yet. The purpose of this financial engineering is partly to make future earnings look better, both on a comparable basis but more importantly because so many expenses got thrown into the loss and so future revenue will have fewer expenses charged against it, giving the appearance of an earnings recovery. The stock is heavily shorted by smart money and they know this large "loss" is guaranteed result in future positive earnings "surprises" so they'd rather take their short earnings off the table and let the dumb money fight it out in the intermediate term.

  4. Re:Move to Android by supertrooper · · Score: 4, Insightful

    Not sure about that. BlackBerry QNX-based OS is really good. It's not like they don't have a great product, the problem is that the product came late and it was pricey. In any case, it's good to have a variety out there.