BlackBerry, once a phone innovator, to stop making its own
September 30, 2016 10:32 AM NPT
WATERLOO, Sept 30: BlackBerry says it plans to stop making its signature smart phones internally, signaling a strategic shift for a company that built its reputation on innovative smart phone technology.
Rather, all development for BlackBerry-branded phones will be outsourced to BlackBerry's partners.
BlackBerry chairman and CEO John Chen says the move will allow BlackBerry to save money as it focuses efforts on software and security services.
Wednesday's move is part of Chen's efforts to turn around the company, once a highly profitable global leader in smart phone technology that has been displaced by products from Apple, Samsung and others.
BlackBerry, which reports its results in U.S. dollars, says it had a $372 million net loss in the three months ended Aug. 31, equivalent to 71 cents per share, but broke even after excluding certain items.