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Blackberry losses decline, shares jump 7 percent

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Blackberry’s smaller quarterly loss, and large sales of its recently launched Passport have helped Blackberry, gain some lost ground. As a result, the shares jumped 7 percent, Reuters reported.

BlackBerry shares were up 7.6 percent at C$11.70 on the Toronto Stock Exchange and up 7.4 percent at $10.51 on Nasdaq. This was a result of Canadian mobile giant’s new policy to focus more on software front, rather than Hardware fronts.

The company was almost sidelined, being a leader earlier, prior to the era of iPhones and cheap, Android based smartphones, with its shares slumping to a meagre $8-$10 value. But the company revised its entire outlook, under the leadership of BlackBerry CEO Chen, and bounced back strongly, by ordering better platform services, majorly on company’s strong suit i.e., Security.

As per Reuters, John Chen, who became BlackBerry’s chief executive officer in November, said the company has already taken 200,000 orders for its new squared-screened Passport smartphone, which went on sale on Wednesday and sold out on within six hours.

Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.

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