BlackBerry Posts Massive $4.4 Billion Quarterly Loss

Source: Javier E. David  / NBC News

Embattled smartphone maker BlackBerry saw no rest to a weary year, as the company was forced to take a massive $4.4 billion writedown on unsold inventory in its fiscal third quarter — including on the device that it hoped would lead to its salvation.

In a sign that BlackBerry isn’t yet prepared to give up on the consumer market, it struck a partnership with Foxconn — the Taiwan-based manufacturer that is the linchpin of Apple’s electronics building efforts. According to BlackBerry, Foxconn will help the beleaguered company develop consumer-focused smartphones for Indonesia, as well as “other fast-growing markets” next year.

The Toronto-based company on Friday reported a net loss of $4.4 billion, or $8.37 a share, in the quarter ended November 30. That compares to Wall Street expectations of a quarterly loss excluding items of 44 cents a share on $1.59 billion in revenue, according to a consensus estimate from Thomson Reuters. Revenue for the quarter plunged 24 percent from the previous quarter, to $1.2 billion.

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