Blackberry Slashes Cost as Next Step toward Revival

Wayne Ellis

[crying smartphone user]

Blackberry Slashes Cost as Next Step toward Revival (Bloomberg)

Blackberry announced that it has retained the services of one of Apple’s main suppliers, Foxconn. Foxconn’s production plants currently are located in Indonesia and Mexico, enabling Blackberry to significantly cut the cost of handling parts and shipping them — two of the company’s most wasteful production items. And cost-cutting measures couldn’t come at a better time for this Ontario-based firm, which saw sales fall 56 percent to $1.19 billion in Q33. In trading earlier today, shares of Blackberry were down 8.8 percent to $5.70. Whether the cost reduction is viewed by investors as a step toward regaining health remains to be seen.

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