BlackBerry posts Q4 2014 results, Reports losses of $423 million

BlackBerry 9720-17

BlackBerry has been facing tough times the last few quarters owing to less than stellar hardware offerings and a lack of consumer interest. Even with BlackBerry 10, the company has hardly managed to stem the tide. The company’s bread and butter has been the Bold and Curve lines and as a sign of the times, both the lines have finally stopped being the volume sellers they used to be. The Canadian smartphone manufacturer has reported fourth quarter losses of $423 million. 

“I am very pleased with our progress and execution in fiscal Q4 against the strategy we laid out three months ago. We have significantly streamlined operations, allowing us to reach our expense reduction target one quarter ahead of schedule. BlackBerry is on sounder financial footing today with a path to returning to growth and profitability,” said CEO John Chen.

BlackBerry published it’s earnings report today and the results are anything but positive. Sales of BlackBerry 7 based devices ie the Bold and Curve line have dropped by 50% YoY to just 2.3 million units. BlackBerry 10 devices on the other hand sold 1.3 million units. Channel inventory has dropped down 30% quarter on quarter. The company made just $976 million in revenues and has a cash and investments balance of $2.7 billion. BlackBerry aims to break even the cash flow by end of fiscal year 2015.


Author: Dhruv Bhutani

Your friendly neighborhood techie. Currently using a Pixel 2 XL. Catch him on Twitter (@DhruvBhutani) / Facebook .