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BlackBerry posts fresh losses, but sees upside

Published on Mar 29, 2014 6:26 AM
 
People walk through a parking lot at the Blackberry campus in Waterloo on Sept 23, 2013. BlackBerry reported fresh losses on Friday but offered some reasons for optimism as the smartphone maker struggles to escape from a death spiral. -- FILE PHOTO: REUTERS

OTTAWA (AFP) - BlackBerry reported fresh losses on Friday but offered some reasons for optimism as the smartphone maker struggles to escape from a death spiral.

The Canadian firm reported a loss of US$423 million (S$530 million) in the fourth quarter of its 2014 fiscal year, as revenues sank.

Revenues fell to US$976 million in the fourth quarter - down from US$2.7 billion 12 months earlier. Sales of smartphones fell from 1.9 million to 1.3 million, the company said.

"I am very pleased with our progress and execution in the fiscal fourth quarter against the strategy we laid out three months ago," said chief executive John Chen, who took the reins in November as the company sought to revive its fortunes.

 
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