BlackBerry announces $4.4bn third-quarter loss and a new Foxconn deal

blackberry boss says theres a 50 percent chance things wont work out

Troubled gadget maker BlackBerry has posted a $4.4bn loss for the third quarter of 2013, together with a significant write-down of assets. The company formerly known as Research In Motion isn’t throwing in the towel yet, though: it has also announced a new five-year deal with Taiwan firm Foxconn to manufacture its smartphones in the future.

Foxconn already builds electronic goods for the likes of Apple and Sony, and the latest agreement gives BlackBerry the opportunity to reduce its manufacturing costs and scale its operations more efficiently across the world (particular in the Far Eastern markets, where the company’s handsets remain popular). In the US, BlackBerry phones have a 3.6 percent share of the market, according to the latest ComScore figures. Android has 52.2 percent, Apple 40.6 percent, and Windows Phone 3.2 percent.

The stock markets responded positively despite the huge losses suffered by the company, as interim CEO John Chen laid out his plans to refocus on the enterprise handset market. Chen was appointed back in November after previous boss Thorsten Heins failed to find a buyer for the company. “For the foreseeable future, our designers in North America will focus on enterprise only,” Chen told investors on a conference call. “This does not imply, in the long term, we’re not going to get ourselves back into the consumer space.”

“Partnering with Foxconn allows BlackBerry to focus on what we do best — iconic design, world-class security, software development and enterprise mobility management — while simultaneously addressing fast-growing markets leveraging Foxconn’s scale and efficiency that will allow us to compete more effectively.”

Much of the $4.4bn loss was caused by write-downs related to unsold inventory, and BlackBerry will be hoping that its partnership with Foxconn minimizes this issue in the future. The deal, and the bullish forecasts by the BlackBerry CEO, saw the company’s share price rise by 16 percent by the end of the day’s trading. Of the devices that BlackBerry did sell in Q3, three quarters of them were from the lower-end BB7 group of products, emphasizing the difficulties that the newer BB10 models have had in clawing back ground from Android and iOS.

Mobile

Is the Apple Card any better than a regular credit card? We asked an expert

The new Apple Card is integrated with your iPhone and comes with a titanium backup card for places that don’t accept Apple Pay, but how does it stack up against the competition? We asked some experts to find out.
Mobile

The best iPhone car mounts to keep your smartphone in sight and stable

The best iPhone car mounts are designed to securely hold your device in place and keep it in view while on the road. Here are some of the mounts you should look into if you're in the market for a quality piece of equipment.
Deals

Amazon drops prices on refurbished Samsung Galaxy, Google Pixel, and iPhone

Break your smartphone or, worse yet, lose it? Tired of paying for a device you don't own? Amazon's got some great deals on unlocked and refurbished phones including the Pixel 3 XL, iPhone XS, and Samsung Galaxy S10 this week.
Mobile

Apple Card is finally available. Here’s everything you need to know about it

Apple is getting into the credit card business. Apple Card is a credit card you can sign up for directly on your iPhone, and it doesn't have fees. There's a lower interest rate and you can even get Daily Cash from all purchases.
Mobile

Save space and data with Google Go, now for regular Android devices

Google Go is the top app for space- and data-saving searches on the entry-level Android Go, and now Google is making those handy capabilities available on mainstream Android devices.
Mobile

Apple Card Review: Come for the titanium card, stay for the app

The Apple Card has a lot of buzz, even if it’s iPhone-only card management will leave you stranded should you lose your phone. Apple’s more concerned with getting reluctant Americans to use mobile payments.
Deals

Looking to upgrade? These are the best iPhone deals for August 2019

Apple devices can get expensive, but if you just can't live without iOS, don't despair: We've curated an up-to-date list of all of the absolute best iPhone deals available for August 2019.
Mobile

Safeguard your stylish ebook reader with the best Kindle Oasis cases

There aren't a lot of truly great options if you're looking to buy a case for your new Amazon Kindle Oasis ebook reader, but we're here to guide you to the ones worth looking at. These are our top picks for style, utility, and protection.
Deals

Get yourself an Amazon-renewed iPhone 8 Plus at a $135 discount

If you’re not keen about spending around $1,000 or more for the newest iPhone X series, then this Amazon-renewed iPhone 8 Plus is your best bet. Amazon is offering the 64GB unlocked version for only $465 instead of $600.
Computing

The best portable monitors for 2019

Portable monitors are smaller displays that can fit inside backpacks or cases. They're great picks for gaming sessions, extra screens on your desk, and more. Find the best portable monitors with our helpful list!
Mobile

Galaxy Note 10 vs. iPhone XS: We expected more from Samsung

Samsung's Galaxy Note 10 is the smaller sibling to the Note 10 Plus, as the iPhone XS is to the XS Max. Unlike Samsung, Apple didn't leave anything out of the smaller iPhone when the pair came out. Can the Note 10 still compete?
Mobile

What is 5G? Here’s everything you need to know

It has been years in the making, but 5G is finally becoming a reality. While 5G coverage is still extremely limited, expect to see it expand in 2019. Not sure what 5G even is? Here's everything you need to know.
Deals

Snag this incredible yet affordable LG Stylo 4 phone for just $250 on Amazon

People are so focused on LG’s flagship series that they forget about its more affordable phones, like the LG Stylo 4. Like the Galaxy Note 9, it has a stylus and runs on Android Oreo 8.1. Their difference? It costs a quarter of the price.
Mobile

The Nokia 3V phone will soon be available on Verizon for only $168

Nokia has announced a new Verizon-exclusive phone called the Nokia 3V. The Nokia 3V boasts a relatively modern design compared to other phones in this price range, plus it offers decent internal specs.