BlackBerry reports $4.4 billion losses for last quarter

Things just don’t seem to be looking up for BlackBerry. With the company now in the reigns of new CEO John Chen, there seems to be small hope that it’s going to bounce back to its former glory.

As per the company’s recently posted financial statements, BlackBerry faced a net loss of $4.4 billion for Q3 2014, selling a total of 4.3 million BlackBerry devices – 1.1 million of these were of the new-generation BB10.

However Chen remains optimistic, and announced a strategic partnership with Foxconn, the world’s largest manufacturer of electronic products and components. “This partnership demonstrates BlackBerry’s commitment to the device market for the long-term and our determination to remain the innovation leader in secure end-to-end mobile solutions,” said Chen. “Partnering with Foxconn allows BlackBerry to focus on what we do best – iconic design, world-class security, software development and enterprise mobility management – while simultaneously addressing fast-growing markets leveraging Foxconn’s scale and efficiency that will allow us to compete more effectively.” The partnership will allow BlackBerry to focus on software development, while Foxconn will work on hardware design. The partnership will initially target devices for release in Indonesia and other fast-growing markets targeting in early 2014.