BlackBerry is on verge of a quarterly loss of $ 995 million

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The hard times for BlackBerry are not going to end yet. The Canadian giant is facing huge crisis in the smartphone market. The handset maker is on the verge of a quarterly loss of around $ 995 million.

According to figures, the company sold over 3.7 million smartphones and generated revenue of almost $1.6 billion. The exact figures for BlackBerry 10 OS smartphones shipped weren’t disclosed. It has also planned to slash over 4500 jobs in order to reduce the operating expenditures by half. After this cut off, the company will be left with only 7000 positions.

BlackBerry will also gather a pre-tax charge of around $930 million to $960 million, thanks largely to the flagship Z10′s incompetence in the market.

The company is also thinking to minimize its smartphone production and limit it to just four smartphones in the coming years. It will include two high-end and two entry-level models. The Z10 smartphone will be downgraded to the low-end level with reduced prices as the new flagship device Blackberry Z30 has just hit the market shelves.

The upcoming line-up of phones will focus on the “enterprise and consumers” and not to be mainstream customers centric.

BlackBerry CEO Thorsten Heins said “We are deploying tough but substantial operational changes declared today in order to develop in a maturing and more competitive market, and to steer the company toward lucrative businesses.”

Rumors about the re-birth of BlackBerry are not feasible but it will have to struggle very hard in order to regain its supreme rank on the smartphone market which it once held.

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