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BLACKBERRY CLOSES THIRD QUARTER WITH $4.4B LOSS

Blackberry

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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.

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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.

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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.

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