9/23/2013

Faced with a $960 million write-down because of disappointing sales of its Z10 flagship smartphone, BlackBerry said it will eliminate 4,500 jobs and narrow its focus to selling hardware and services to the corporate and professional markets. The company on Friday estimated quarterly sales to drop 45% from a year ago. BlackBerry, which will reduce its product line from six phones to four, also said on Sunday that the company will sell its line of corporate jets after buying a larger, used plane in July. In another report, former co-CEO Mike Lazaridis is said to have reached out to venture capital firms in hopes of making a bid for his old company.

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