For Blackberry, things from bad to worse

BlackBerry’s failure to keep up with Apple and Google was a consequence of errors in its strategy and vision. First, after growing to dominate the corporate market, BlackBerry failed to anticipate that consumers would drive the smartphone revolution. The company was blindsided by the emergence of the “app economy,” which drove massive adoption of iPhone and Android-based devices. Also BlackBerry failed to realize that smartphones would evolve beyond mere communication devices to become full-fledged mobile entertainment hubs.

As a result, after releasing its quarterly financial results (hoping to see some improvement), BlackBerry saw its shares fall by another 20% (close to 1 billion dollars). Blackberry has also reported that it will be implementing a workforce reduction of 4,500 positions, or approximately 40% of the company’s global workforce. As a result this will result in workforce of approximately 7,000 full-time global employees.

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