BlackBerry Reorganizes, Inks Foxconn Deal
BlackBerry today announced a number of changes in how it will operate moving forward. It plans to transition its internal structure to four business segments: enterprise services, messaging, QNX embedded, and devices. BlackBerry believes this change will help it focus better on each individual business unit. The company said it has struck a five-year deal with Foxconn, a hardware manufacturer, to help it develop low-cost smartphones for emerging markets. It expects to announce the first such devices early next year. It will be a 3G smartphone that runs BB10. BlackBerry also plans to reveal new automotive cloud services, based on its QNX platform, in January. BlackBerry noted that its BBM messaging service has been downloaded and installed on more than 40 million Android and iOS devices since it became available earlier this year. The company generated revenue of $1.2 billion for the quarter, but saw smartphone sales drop significantly from 3.7 million in the previous quarter to 1.9 million in the current quarter. The company posted a loss of $4.4 billion, much of which it attributed to write-downs of unsold phone inventory.
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