BlackBerry CEO Thorsten Heins intimated he was 'very disappointed' with the results from the last quarter as the sales of the company's smartphones plunged, most especially in the Americas.
This morning, the company released a complete financial report after an earlier statement made was without any figures from the Americas. The sales in the region which the firm once dominated, declined at a rate faster than any other. The sales tumbled 56% to just USD610 million overall.
Under Heims, there have been moves to slash costs after a lukewarm market recception to the new BlackBerry 10 portfolio that was introduced this year. In going private, the company is seeking to tackle its challenges outside the view of public markets. In September 23, BlackBerry's largest investor, Fairfax Financial Holdings, had formalized an offer to purchase the company.
Many investors have remained skeptical of the tentative deal, as shown by BlackBerry shares falling 0.7% to USD7.95 in trading in New York. This priced the market value of the smartphone manufacturer's shares below the initial offer of Fairfax at USD9 per share.
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