Tuesday February 18, 2020

Black days for BlackBerry

On Valentine's Day 2011, the share price of Research In Motion, which makes BlackBerry devices, stood at $69. Last week, it fell to $10, its lowest level since 2003.

2nd June, 2012
BlackBerry: its lack of apps is a problem. Photo: Bloomberg

On Valentine's Day 2011, the share price of Research In Motion, which makes BlackBerry devices, stood at $69. Last week, it fell to $10, its lowest level since 2003.

The company, which once dominated the smartphone market, now appears to be in freefall. It has more than $1 billion-worth of unsold phones and tablets lying around in warehouses. Last week, amid a booming smartphone market, it announced an operating loss and massive job cuts to make ends meet.

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