Blackberry has confirmed that it will lay off 4,500 employees (around
40% of its workforce) and retreat from the consumer market, as it
expects to report a loss of nearly $1billion in their second quarter.
The heavy loss may be caused by the launching of two blackberry phones,
Z10 and Q10 which were designed to compete for customers and revivify
the brand in the android world. However, this didn't play out well, as Blackberry's market
share has declined, causing it to lag behind its rivals. CEO and
president of the smartphone company, Thorstein Hein, said they would
slash costs by 50% and shift its focus back to competing mainly for
business customers most loyal to its brand.
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