updated 07:56 am EDT, Fri September 27, 2013
Low revenues, high losses confirmed, conference call cancelled
BlackBerry has released its quarterly financial results, on the same day as its Z30 smartphone goes on sale in the United Kingdom. Just as it expected, it managed to earn $1.6 billion in revenues for the second quarter, down from the $2.9 billion in the same period last year, though the operating loss is marginally less than the $1 billion predicted, reaching $965 million.
The bleak financial results combined with its potential purchase by the Fairfax consortium for $4.7 billion has forced the smartphone manufacturer to cancel its quarterly earnings call. CEO Thorsten Heins, in a statement accompanying the results, advised "We are very disappointed with our operational and financial results this quarter and have announced a series of major changes to address the competitive hardware environment and our cost structure," reports TechCrunch.
The month itself has been highly turbulent for BlackBerry. Aside from Fairfax, it has confirmed it plans to let go of approximately 4,500 employees, is no longer having its smartphones on sale in T-Mobile retail stores, bungled its BlackBerry Messenger for iOS and Android launch, and could end up losing one of its manufacturing partners in the future.
Despite the financial woes, the company is carrying on in supplying handsets to its customers, with the first BlackBerry Z30 devices being sold through Selfridges in the United Kingdom. The device, sporting a 5-inch 1280x720 Super AMOLED display with a dual-core 1.7GHz Qualcomm Snapdragon S4 Pro processor and 2GB of RAM, has appeared at the retailer before a more general release in the UK and the Middle East, followed by other regions by the holiday season. Selfridges lists the BlackBerry Z30 at £529 ($850) off-contract, but can also be gained on a £32-per-month ($51) two-year contract.