Blackberry, a once prominent and ubiquitous company is now struggling to survive in the industry. The company who has released their preliminary financial results for the second quarter has revealed a $950 million operating losses.
According to Yahoo! finance, Blackberry will also remove itself from the consumer market, opting to focus on enterprise and end-to-end solutions instead. They’ll also trim their lineup from six devices to four, with two high-end offerings and two lower-specced phones.
In their press statement, they explained a change in strategy and focus on the prosumer market, which will aid them in cutting costs of up to 50% by 2015.
Furthermore, the Company also announced that it is targeting an approximate 50% reduction in operating expenditures by the end of the first quarter of Fiscal 2015. As part of this, BlackBerry will implement a workforce reduction of approximately 4,500 positions or approximately 40% of the Company’s global workforce resulting in a total workforce of approximately 7,000 full-time global employees.
This marks an end to Blackberry’s consumer presence. While the enterprise market got them to where they were, programs like BYOD and Apple’s increasingly strong presence in enterprise will prove difficult. Besides, the competition from Google will increase the difficulty for Blackberry.