Bye Bye Blackberry

I used to own several Blackberry devices…I really liked them especially their secure communications…however they lagged and lagged and lagged behind the technology curve and eventually they were stuck in the middle of a fast highway with pedal car solutions…they just got run down.

BlackBerry Ltd. will cut 4,500 jobs, write off more than $900-million (U.S.) worth of unsold phones and abandon parts of the consumer wireless market in an attempt to save a business in freefall. 

The Waterloo, Ont.-based company said the writedown will lead to a loss of nearly $1-billion in its second quarter ended Aug. 31. The company said the inventory charge is largely related to its Z10 touchscreen phone, which it unveiled in January at a splashy event in New York. Sales of the device have been so dismal that BlackBerry said its smartphone revenue will be less than $800-million in the quarter, less than half the $1.7-billion it reported a year earlier.

The stock shed 16 per cent of its value after the late afternoon announcement, closing in Toronto at $9.08 (Canadian).

The extreme measures underscore the uncertainty over the company’s future.

Their future is bleak. Once a leader in smart phones they are now the also ran.

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