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BlackBerry shares slide on unexpected loss

BlackBerry shares slide on unexpected loss
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There were few signs of a long-promised turnaround from BlackBerry as it reported an unexpected net quarterly loss of $84 million.

That was better than the year-earlier loss of $518 million, but the struggling smartphone maker offered little detail on sales of its make-or-break new devices in the quarter that ended on June 1st.

Those handsets – the Q10 and Z10 – were launched earlier this year, but are only just reaching the crucial US market.

Analysts said shipment numbers indicate sales of those devices have not yet been as good as hoped.

Blackberry’s shares slumped.

The numbers were the reverse of the previous quarter when it surprised investors by posting a profit.

The Canadian company is struggling to compete against Apple’s iPhone, Samsung’s Galaxy range and other devices powered by Google’s Android operating system

It shipped 6.8 million smartphones in the quarter – up 13 percent from the final quarter of its last fiscal year with 2.7 million of them being BlackBerry 10 devices, but it did not breakdown how many were Q10 models and how many were the Z10.