BlackBerry posts massive loss, but turnaround remains on-track

BlackBerry has posted revenue for the fourth quarter of fiscal 2014 of approximately $976 million, down 64% from $2.7 billion in the same quarter of fiscal 2013.

BlackBerry reported a 64% drop in sales for the fourth quarter of fiscal 2014, which were worth $976m compared to $2.7bn in the same quarter last year.

But BlackBerry CEO John Chen remained optimistic that the turnaround plan unveiled three months ago was on track.

He said: "I am very pleased with our progress and execution in quarter against the strategy we laid out three months ago. We have significantly streamlined operations, allowing us to reach our expense reduction target one quarter ahead of schedule."

In December Chen said BlackBerry was aligning itself to focus on the regulated industry and its security and communications suites. The other main area of focus for BlackBerry, is QNX, which Chen described as "one of the crown jewels."

More articles on BlackBerry

BlackBerry 'damaged' enterprise relationship with BB10

Can BlackBerry restore its business appeal?

Three steps to replacing BlackBerry in the enterprise

In February Chen admitted the launch of its BlackBerry 10 mobile operating system and the accompanying Z10 handset made the firm lose focus on the enterprise and damaged its relationship with its business customer base

In a bid to win back enterprise users BlackBerry has begun offering customers the opportunity to trade in their licences with rival firms. Any time left on their existing licences is added for free onto their BES 12 licence. Users of older versions of BES will be able to upgrade for free.

But the company has been attempting to distance itself from mobile device management providers, being the first to receive Full Operational Capability (FOC) to run on US Department of Defense (DoD) networks.

Read more on IT supplier relationship management