BlackBerry revenue slumps; company outsources hardware

The company suffered a net loss of $372 million as against a $51 million profit last year

BlackBerry Ltd posted a 31.8% fall in its second-quarter revenue earnings, prompting it to say it would end all internal hardware development including those involving smartphones.

The Ontario-based company, Waterloo, reported the company suffered a net loss of $372 million, or 71 cents a share, while earning a revenue of $334 million. A year ago, it reported a profit of $51 million, or 24 cents a share, on revenue of $490 million. Excluding one-time items, the company said it broke even.