BlackBerry BlackBerry's attempt for a turnaround has suffered a setback.
The company that recently launched the BlackBerry Z10 has reported a loss of $85 million in the business quarter ending on June 1.
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According to Forbes, the loss has been considered as a "surprise" and resulted in shares plummeting 25 percent to $10.80 on Friday morning in New York. The drop in shares effectively eliminated the gains BlackBerry stock gained this year.
BlackBerry has reportedly shipped 6.8 million smartphones during the recent quarter with 2.7 million units powered by its latest BlackBerry 10 mobile operating system. A Bloomberg report, however, stated analysts expected 3.6 million units of the BlackBerry 10 devices to be shipped.
BlackBerry's latest devices, notably the BlackBerry Z10, have fallen behind its competitors, namely Apple's iPhone 5 and Samsung's Galaxy S4. Forbes highlighted that the Galaxy S4 has outsold two new BlackBerry 10 phones by five to one.
"I can't imagine anyone is happy with BlackBerry performance except maybe BlackBerry competitors," said technology industry analyst Jeff Kagan, via the Los Angeles Times. "Can BlackBerry turn things around with their new Q10? Hopefully yes, but to tell you the truth hopes are dimmed by this first-quarter performance."
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