BlackBerry is expected to face tough questions about its future during the annual shareholder meeting on Tuesday. This was after dismal quarterly reports last week that triggered a 28% decrease in the smartphone manufacturer's share price.
The sales of BlackBerry's new line of smartphones in the quarter ended June 1 were in well below analysts' expectations. The analysts even offered little evidence that the phone maker can quickly win back market share from Apple Inc's iPhone, Samsung's Galaxy line and other phones powered by Google's Android OS.
According to John Goldsmith, the deputy head of equities at Montusco Bolton, the results shown in the quarterly report of the smartphone maker signaled a quasi death knell for the brand. Montrusco Bolton owned 1.5 million BlackBerry shares. Goldsmith added that the share decrease moved violently last week that would result to getting people standing up and making their voices heard during the annual general meeting.
CEO for BlackBerry Thorsten Heins confirmed forecast of another operating loss for the current quarter. However he said that the company is on the right track and needs more time.
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