BackBlackBerry reports surprise profit after increasing prices
The former leading smartphone maker reported a fourth-quarter profit after increasing the average price of its smartphones amid slumping sales
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Toronto: BlackBerry Ltd reported a surprise fourth-quarter profit after increasing the average price of its smartphones amid slumping sales.
Excluding some items, the profit was 4 cents a share in the period ended 28 February, the Waterloo, Ontario-based company said in a statement. Analysts had projected a loss of 4 cents a share, the average of 27 estimates compiled by Bloomberg. Sales dropped 32% to $660 million, missing analysts’ projections.
The former leading smartphone maker, whose global market share has fallen to less than 1%, is still relying on phones to ease its transition to providing software and services that are compatible with devices made by others. Since September, the company has unveiled three new models—the Leap, the Passport and the Classic—and plans more this year.
BlackBerry shares have fallen 14% this month as analysts from Morgan Stanley and Rosenblatt raised concerns about low demand for the new phones. Bloomberg
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