Blackberry Ltd. reportedly has plans to introduce a new string of smartphones and other forms of updated software for mobile management this year. Chief Executive John Chen was the one responsible for keeping the company on its toes by ensuring that expenses are reduced. His efforts have been rewarded when the Canadian company was able to obtain a surprise profit.
The company has given hints that its effort to increase revenue by introducing new smartphones, security services, and mobile management software to potential business and corporate clients is working to their advantage. Despite the fact that their efforts continue to slash costs, the company is confident that their plan is working.
Chen has mentioned that Blackberry is "at the tail end of its cost-cutting" efforts and is now looking forward to boosting the company's revenue. He gave this statement during the company's earnings call.
In the fiscal 1st quarter, which ended on the 31st of May, Blackberry reduced its adjusted operating expenses by a whopping 57%, as compared to one year ago. This facilitated the company in its cost-cutting efforts, which led to an unexpected profit of $23 million for this particular period. This value is well ahead of their loss three months ago which amounted to $423 million, as well as its year-earlier loss of $84 million.
Blackberry authorities stated that the sales of its latest smartphone, the low-cost Blackberry Z3, have been exceeding a lot of their expectations. Inspired, the company is confident that their plans of releasing other smartphones this year are still intact and that everything remains on schedule.
According to Chen, a lot of their enterprise customers are very much interested in the technology associated with Blackberry gadgets. This new technology is intended for use by company officials for managing or overseeing the cell phone units that they issue to their employees.
This article is copyrighted by Travelers Today, the travel news leader
