In line with yesterdays WSJ report, BlackBerry announced that it will cut 4,500 jobs as part of a plan to reduce its operating expenditures over the next year. Furthermore, the struggling Canadian company is expected to post a loss of almost $1 billion in the fiscal Q2 of 2014.
The eye-watering loss is a result of lackluster sales of the BlackBerry Z10 smartphone. The company will take a hit against inventory and supply commitments involving the failed smartphone. Going forward the device will be priced to appeal to entry-level audience, thus leaving the freshly announced BlackBerry Z30 as the companys flagship.
In order to make its way out of the woods, BlackBerry will reduce its portfolio to four devices two high-end and two entry-level ones. Future products will be focused away from the mainstream consumers, back to the companys former stronghold the enterprise and prosumer user base.
Source : http://www.gsmarena.com/blackberry_will_cut_4500_jobs_lose_almost_1_billion_in_q2-news-6833.php
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