(MENAFN) Ontario-based BlackBerry announced that its losses in the April-June period of this year amounted to USD965 million, Times of Oman reported.
The mobile phone maker, which recently agreed to a buyout, was hit hard by competition causing the company to register bad results.
BlackBerry CEO and President said: "We are very disappointed with our operational and financial results this quarter and have announced a series of major changes to address the competitive hardware environment and our cost structure."
BlackBerry and a consortium led by Fairfax Financial Holdings Limited signed a letter of intent after the consortium offered to acquire the company.
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