Blackberry Posts $5.9bn Loss

Smartphone maker Blackberry has reported a loss of $5.9bn for its latest financial year.

The company, however, reported a smaller than expected loss of $423m, compared with a loss of $4.4bn in the previous quarter.

Blackberry boss John Chen, has said the firm is moving to a "sounder financial footing".

As part of its turnover plan, the company is planning to focus on its services and putting renewed emphasis on its keyboard devices.

The company's latest models have not lived up to high expectations, and after heavily promoting several devices with touch-screen keyboards, it is now returning to its roots, encouraging the physical keyboards.

Colin Gillis, analyst at BCG technology said: "John Chen did what John Chen is known for. He came in and he's cut the cost base.

"He's buying himself some time."

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