The share value of BlackBerry plummeted 17% last month following the company's report about loss. CEO Thorsten Heins made it clear that the company was undergoing restructuring while BlackBerry does everything to recover. Conversely, a managing director in India, Sunil Lalvani, stated in an interview with 'The Indian Express' that BlackBerry was not in any kind of trouble.
"BlackBerry is not in trouble," Lalvani said. "So these 15 months of turnaround might have been a little tough for us but we are beginning to turn that around. During this period, we have seen that our cash reserve has only grown. Though we had this quarter ritual stuff and we had some loss in that but that's part of the business because you always have challenges in the transition phase. Despite having some challenges in this quarter, if you see the overall financial foundation of the company, it is still very strong."
The shares of BlackBerry in the US smartphone market plunged from three years ago's 43% to less than 4.8% in May 2012. Also, the company's share in the global market nose-dived by 24%. Its users were down to 72 million from over 76 million in 2010.
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