Blackberry reports net loss of $670 million this year

Blackberry

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This year blackberry has faced the toughest part as it loses $670 million which came into result of a $501 million write down on the value of its handset business, a $47 goodwill impairment payment and $41 million worth of inventory write downs, among a few other charges.

Last year the company had released its first Android flagship, which was so disappointing release for the business of the company. The company has trying to overcome from the toughest situation – the Canadian smartphone maker launched the BlackBerry Priv running on Android platform to stay competitive in the market. In this quarter the device sold around and the business has seen 5,000,00 units with some decent revenue from an average selling price of $290.

SEE ALSO: BlackBerry Priv Marshmallow beta is now open for registration

The company CEO, John Chen said, “We are at a point where our business is extremely efficient and we no longer really are making hardware. We are really a hardware design house”.

Although he declared that blackberry will introduce two cheaper Android devices this July, but will also focus on the device hardware, to make the device business profitable. The company taking the necessary steps to bring its glory in the smartphone market tough its primary focus has been concentrated in the software and service.

Source: Bloomberg

Image: CC

Blackberry reports net loss of $670 million this year