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The woes of BlackBerry appear far from over. The company managed to sold 1.1 million smartphones, running the BlackBerry 10 OS in Q4, suffering a net loss of $ 423 million during the company’s fiscal fourth quarter.
Revenue for the fourth quarter of BlackBerry’s fiscal 2014, which ended March 1, was approximately $976 million, down 64 percent from $2.7 billion in the same quarter in 2013.
The company’s $423 million net loss for the period compares to a $98 million profit for the year-earlier period. The loss, however, was smaller than analysts expected, and BlackBerry’s shares were trading higher at the beginning of the trading day.
BlackBerry had $2.7 billion in cash, cash equivalents, and short- and long-term investments at the end of its fourth quarter, compared to $3.2 billion at the end of the previous three month period.
The main problem for the company is its poor sales. The company sold approximately 3.4 million BlackBerry smartphones to end users last quarter, including about 1.1 million phones running the BlackBerry 10 OS. A year earlier, the company said it sold 6 million smartphones.
While launching products that run BlackBerry 10, the company will continue to manufacture BlackBerry 7 OS devices and support the OS as long as there is demand, it said.
BlackBerry’s revenue breakdown for the quarter was approximately 37 percent for hardware, 56 percent for services and 7 percent for software and other revenue.
The company’s fortune to a large extent depend on the success of the upcoming low-cost Z3 smartphone, the Classic QWERTY smartphone as well as management platform BES (BlackBerry Enterprise Service) 12 and the eBBM Suite. BBM Protected, the first product in the suite, will offer enterprise messaging with end-to-end encryption.