According to analysts, the threats to BlackBerry's future were clear. For a prospective venture capitalist, investing in the company would be a risky bet since a complete turnaround would not be guaranteed. However, for value-seekers, the company's current below market valuations would make investing in this company a sound business decision.
BlackBerry failed to meet analysts' expectations. The Canadian company sold only 2.7 million BlackBerry 10 devices. Four million customers switched to another brand and its shares' value went down by more than 20%. Furthermore, 250 more workers were laid off at BlackBerry's Waterloo headquarters after the company fired 5,000 employees in 2012.
"We are five months into a platform transformation that we anticipate will drive future smartphone device sales, greater enterprise efficiency, and a new mobile computing opportunity for years to come. We've never been a devices-only company. We also run a global secure data network and services business. And we don't plan to run the company with a short-term device-only strategy," CEO Thorsten Heins said.
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