BLACKBERRY CLOSES THIRD QUARTER WITH $4.4B LOSS

BlackBerry reported massive quarterly loss on Friday as its shares fell to more than 6 percent bringing aggregate lose to $4.4 billion for the third quarter.

Shares of the company fell to $8.37 for the third quarter ended November 30.

The company said it had agreed to a five-year partnership with Foxconn Technology Co Ltd to develop and manufacture a handset for Indonesia as well as other fast-growing markets.

Reuters reported that Waterloo, Ontario-based BlackBerry pioneered the concept of on-the-go email, and for years its pagers and phones were must-have devices for political and business leaders.

Last month, BlackBerry shelved the sales process and opted to refinance by issuing $1 billion in debt to a group of long-term investors, including its top shareholder, Fairfax Financial Holdings.