Blackberry announced that it has retained the services of one of Appleâ€™s main suppliers, Foxconn. Foxconnâ€™s production plants currently are located in Indonesia and Mexico, enabling Blackberry to significantly cut the cost of handling parts and shipping them — two of the companyâ€™s most wasteful production items. And cost-cutting measures couldnâ€™t come at a better time for this Ontario-based firm, which saw sales fall 56 percent to $1.19 billion in Q33. In trading earlier today, shares of Blackberry were down 8.8 percent to $5.70. Whether the cost reduction is viewed by investors as a step toward regaining health remains to be seen.
Sign up to the Human Events newsletter