Boston, MA 10/16/2013 (wallstreetpr) – Rumors making rounds about BlackBerry Ltd (NASDAQ:BBRY) exiting the consumer market has been silenced by the company. BlackBerry has fervently denied all the rumors made by analysts and media about its exodus from the consumer market in the launch event of its new Smartphone Z30 hosted in London.
The company has revealed its plan to stay in the global core market and also unveiled that the majority of its customers are the market consumers. BlackBerry reiterated its plan to chiefly focus on the four core handsets viz. Z30, Z10, Q10 and Q5 by the company incorporated with the latest mobile operating system, BB 10.
Current challenges faced by the company are not a secret to anyone in the mobile industry. For quite a long time now, the company is making weaker sales from its new manufactured products. It also posted a gigantic loss in the 2Q13 results which yanked the company down by a $995 million on its unsold devices. Over the years, the market capitalization of the company has also dwindled a lot making the $83 billion worth company to a mere $4.7 billion. It is also estimated that the company can further report losses in the coming months if it botches to make a good sale from the streak of its new SmartPhones.
With the gargantuan losses, BlackBerry is also expecting to show exit doors to 40% of its existing employees by next year.
Amidst all these facts, many analysts are still positive about the company and are saying that BlackBerry can again taste success if the business is acquired by the bidders and the mobile giant may once again become financially sound. Seeing the current losses, it can only be said that the shareholders and investors of the company have to wait and watch the results of the analyst’s diligence.
