BlackBerry posts US $4.4 billion loss for 3rd quarter, announces Foxconn partnership

BlackBerry just posted a US $4.4 billion net loss from continuing operations. This is despite massive layoffs and a revamped leadership plus a renewed focus on enterprise solutions.

"With the operational and organizational changes we have announced, BlackBerry has established a clear road map that will allow it to target a return to improved financial performance in the coming year," acting-CEO John Chen said in a release today.

More alarming is the fact that BlackBerry shipped just 1.9 million smartphones during the Novembequarter, down from 6.9 million in the same quarter last year before it launched the new BB10 mobile OS and handsets. BlackBerry was recently ousted from its third place position in mobile by Micrsoft's Windows Phone.

Revenue for the three-months ended Nov. 30 was US$1.2 billion, down 56 per cent in the same quarter last year and $400 million lower than analyst estimates.

In pre-market trade, BlackBerry's battered shares fell 45 cents or 7.2 per cent to US$5.80 after the earnings report.

A more positive bit of news is that BlackBerry is teaming up with Foxconn, a known Apple partner in manufacturing. Foxconn and BlackBerry are said to be focusing initially on emerging markets such as Indonesia.