In the mobile industry, giants may fall fast and hard. Take the case of Blackberry and Apple, for example.
Fanatics lined up outside stores around the world last Friday after Apple Inc. released its new set of iPhones. Apple sold more than 9 million new iPhones over the weekend, according to a Bloomberg report.
BlackBerry released its flagship unit Z10 touchscreen phone earlier this year. The new touchscreen smartphone from BlackBerry sold 5.9 million in the last three months.
Apple's stock jumped 5% after the sales announcement. This gave Apple a market value of approximately USD446 billion. Meanwhile, BlackBerry said it would reduce 4,500 jobs and write down as much as USD960 million in its fiscal second quarter.
The companies' different routes became evidently different these days. More so when BlackBerry said it had signed a tentative agreement to a USD4.7 billion buyout by a group led by Fairfax Financial Holdings. Blackberry expects to earn USD1.6 billion in total revenue for its second quarter, which is far from Apple's last iPhone-only quarter revenue of USD18.2 billion.
Join the Conversation