Shares of BlackBerry plunged nearly 9 percent this morning after the company posted unexpectedly low revenues in its fiscal fourth quarter. The company said it shipped 600,000 phones in the quarter, well below expectations.
The analysts at Wells Fargo Securities expect BlackBerry to report shipping roughly 850,000 Priv smartphones during the company's most recent quarter, a figure the financial analyst firm said would help push the vendor's overall corporate quarterly revenues to around $571 million-- slightly above Wall Street expectations of $565 million.
In separate meetings with the FCC, executives from Apple and BlackBerry discussed the agency's proposal to increase the length of mobile emergency alerts from 90 characters to 360. They also debated whether those alerts should include links to websites, and whether those websites would hold up under a barrage of traffic from concerned recipients.
BlackBerry confirmed that it laid off 200 employees in its headquarters in Waterloo, Ontario, and also in Florida. The company said in a statement provided to media outlets including the New York Times that "we remain focused on driving efficiencies across our global workforce. This means finding new ways to enable us to capitalize on growth opportunities, while driving toward sustainable profitability across all parts of our business."
BlackBerry CEO John Chen told investors today that the company's Priv smartphone, which is based on Google's Android software, is a hit with consumers and will help the company turnaround its struggling hardware business.
BlackBerry's new Priv Android smartphone appears to be available through the nation's largest physical retailer, Walmart, news that helped raise BlackBerry's share price to its highest level since January.
Cognitive Systems Corp., a Canadian startup backed by one of BlackBerry's founders, unveiled a technology for tracking wireless signals that it says can be used for detecting intruders, managing crowds or finding victims of natural disasters.
FierceWireless Editor Phil Goldstein bids goodbye in his final column for the publication and reflects on how the wireless industry has changed during the seven years of his tenure.
Even as BlackBerry rolls out its first smartphone running a version of Google's Android platform, the Priv, the company remains focused on bulking up its software prowess and may pursue more acquisitions, according to CEO John Chen.
BlackBerry is betting big on the Priv, its new smartphone that runs a modified version of Google's Android platform. However, analysts are skeptical about whether the security-focused phone can help deliver a hit for BlackBerry and keep the company's hardware business afloat.