Blackberry quites Phone Production after recording $372M loss

Pappi Hex

  Much seems to be going down with Blackberry. After recording a huge loss of users leaving their OS for other Operating Systems, Blackberry has finally decided to put a stop to hardware production.

 This move seem come after Blackberry recorded low sales and high return rate of its Android-powered device "Priv". According to Re/code, Blackberry made an announcement that it recorded a net loss of $372 million.
BlackBerry said Wednesday that it will stop internal development of smartphones, relying on partners for any future hardware efforts […]
“The company plans to end all internal hardware development and will outsource that function to partners,” CEO John Chen said in a statement. “This allows us to reduce capital requirements and enhance return on invested capital.”
 Blackberry CEO John Chen says that the company's switch to selling software is taking hold and he claimed that its software revenue has kept on doubling year after year.

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