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BlackBerry's failed Z10 cost the company almost $1 billion in losses

BlackBerry releases devastating earnings report, sold only 3.7 million handsets and took a $1 billion loss on the Z10.

@CharlesJGantt
Published Fri, Sep 27 2013 10:35 PM CDT   |   Updated Tue, Nov 3 2020 12:20 PM CST

We are finding out why BlackBerry decided to cancel its investors call this afternoon. The company has released its financial report that suggests that it lost almost $1 billion due to its flagship Z10 failing to excite customers. Last quarter, the Z10 accounted for more than $934 million in losses with an overall loss of $965 million.

BlackBerry's failed Z10 cost the company almost $1 billion in losses | TweakTown.com

The BlackBerry Z10 is not solely responsible for the company's downfall, however. Years of stagnant progress and lack of innovation led up to the once king of smartphones being rendered a beggar peasant among kings. The company reported only $1.6 billion for the quarter, which was off by almost 50 percent from last year. It did manage to ship 3.7 million smartphones, which pales in comparison to Apple who claimed 15 million iPhones last weekend alone.

NEWS SOURCE:venturebeat.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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