Blackberry has reported its financial figures for the first quarter of 2016, which includes a net loss of $670 million and a revenue of $424 million slightly below the expected $471 million.

In a not-so-surprising turn, it was revealed that both its smartphone and service access fee revenues came in weaker than expected because instead upping the 600,000 devices sold in the last quarter, it only sold 500,000 devices this quarter. However, 39 percent of its revenue came from software and services.



Despite this, Blackberry’s CEO, John Chen claims that they aren’t done with the Smartphone hardware. In his own words:

“We’re at a point where our business is extremely efficient and we no longer really are making any hardware. We are really a hardware design house.”

He, however, confirmed that the existence of Blackberry’s cheaper Android-based devices which might be launched in September.



Also, despite the loss, the company stock price rose by as much as 4.6 percent before settling at a 2 percent increase following the announcement.

According to Bloomberg’s analyst:

If Chen can’t restore profitability to the handset unit, it’s “got to go, “This is a company who’s in the midst of a product transition right now. The device business is clearly not working. You really need that one device that resonates with consumers and does well.”

If Blackberry fails to meet their expectations after the launch of the Blackberry Hamburg and Rome, I am afraid, but it might be the end of Blackberry Smartphones as we know it.

This is really sad ...

Hmmm my heart bleed out for BlackBerry