BlackBerry shares drop as BB Z10 fails to excite users

BlackBerry shares drop as BB Z10 fails to excite users

Mobile phone manufacturer BlackBerry announced a considerable drop in its shares, amounting in a net loss of £55m for the second quarter of this year.

Although the loss does not spell great news for BlackBerry, figures for the Canadian company are already better than last year’s £340m slump. That said, predicted revenues were set at £2.2bn, so today’s news isn’t as promising as BlackBerry might have hoped.

The company failed to give a breakdown of sales for the second quarter of 2013, though it has been calculated that BlackBerry shipped 6.8m smartphone devices, marking an increase from Q1 of the year.

Chief executive or BlackBerry, Thorsten Heins, reacted to the drop in shares: “During the first quarter, we continued to focus our efforts on the global roll out of the BlackBerry 10 platform”. He added, “We are still in the early stages of this launch”.

The BB Z10 sporting the new BlackBerry 10 platform was launched in January, followed by the BB Q10, as a re-launch for the Canadian company. With other devices including the BB Q5 promised for the upcoming months, this surely isn’t the end of the road for BlackBerry.

Written by Charlotte Kertrestel