DigitalOlympus.com Comments on Blackberry’s Affirmation of Huge Loss and Revenue Decline
On September 29, leading news bog DigitalOlympus.com comments on recent news story by Alastair Sharp and Allison Martell published on September 27 on reuters.com concerning BlackBerry Ltd which reported a quarterly loss of almost $1 billion recently following the warning it issued last week, few days after the smartphone producer agreed to its largest shareholder’s provisional $4.7 billion proposal to take it private.
According to the reuters.com report, the announcement indicated Blackberry turned in a specifically poor performance in Latin America, a region it recently flaunted as keen supporters of its handheld devices. The firm which cautioned on September 20 that poor results may be reported declared its net loss for the second quarter, ended on August 31, was $965 million, or $1.84 a share.
“While the profit generation prowess of BlackBerry may be at a decline, some telecom equipment firm may still choose to stock the device,” says a DigitalOlympus.com spokesperson. “Companies that focus on rendering phone system equipment services are still in doubt regarding the possible outcome of the agreed takeover of BlackBerry.”
Sharp and Allison reports indicated that “Revenue fell 45 percent from a year earlier to $1.6 billion, and BlackBerry’s cash pile – made up of cash and equivalents, short and long-term investments – fell by more than $500 million to $2.57 billion.”
In a statement following the report, DigitalOlympus.com principal researcher Josh Cole declared that rivalry in the smartphone sector is intensifying at a rapid pace and firms that render business phones equipment services as an alternative to smartphones have also played a role in mounting pressure on several smartphone maker.
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