BlackBerry shares fall 28% on weak sales

Canadian manufacturer of BlackBerry smartphones on Friday after the close of the U.S. trading session, posted quarterly results were significantly worse than market expectations, triggering a massive sell securities of the company and the BlackBerry shares drop of 27.76%.

Along with the disappointing results of the quarter, the company said on the complete cessation of production of its Internet Tablet Playbook, which has not found a buyer in the market.

According to the company, the new devices based on BlackBerry OS 10 is not sold as good as might be desired to investors and shareholders. In the reporting quarter, has sold 6.8 million BlackBerry smartphones, versus 7.8 million a year earlier. This number includes vehicles running on the basis of the old versions of operating systems. As for the new smart phones based on BB10, their number does not exceed 2.7 million units.

Analysts say the BlackBerry 10 system is critical to the company, the new devices based on this platform began to be sold at the beginning of this year. Two smartphone BlackBerry Z10 and Q10 received good reviews from critics, but the widespread popularity, they still have not received it. In addition, in some markets the company began selling new items with a delay, which also benefited from its revenues. The latest quarterly figures show that even after normalization of supply devices do not enjoy the support of a substantial market.



Mike Walkey, an analyst at Canaccord Genuity, said that the new operating system in the short term is unlikely to revive BlackBerry. "The transition will take more time than we thought. Company itself with the release of the first BB10-smartphones believed that the transition is complete, but it is not" - said Walkey.

In the reporting quarter, the company reported a net loss of $ 84 million, or 16 cents a share, on revenue of $ 3.1 billion. In just one year the company has accumulated a net loss of 518 million dollars, or 99 cents per share. Analysts expect that in the reporting quarter, the company will show a profit of 5 cents per share and revenue of 3.27 billion dollars.

Declined in the quarter and the number of users of BlackBerry - from 76 to 72 million people.

The forecast of the company said that in the current quarter is also expected loss, as in today's mobile market supercompetitive company can not develop a model with which to reach the level of sales that displays on the bottom line.