Blackberry will NO longer produce produce phones after recording heavy loss

Research In Motion (RIM) Ltd., producers of Blackberry phones, will now outsource manufacturing of its hardware from now on. the company said on Wednesday as it reported another loss and sharp drop in revenue. 

The company also made it known that it's chief financial officer, James Yersh, would leave effective Oct. 1st 2015 for personal reasons. It announced former Sybase executive, Steven Capelli, as his successor. 

The net loss came to $372 million and worse still, the company’s second-quarter revenue fell 31.8 per cent from last year forcing the board of directors to make drastic decisions  as such. As a last resort, in October 2015, Blackberry changed the direction of its handset business by producing its first smartphone running Google’s Android operating system, rather than its own BB10 software. 

However, owners of the franchise have admitted the device, which featured a slide-out physical keyboard, was too expensive to appeal to a mass market.

The company has since launched a less expensive touchscreen-only Android handset, based on a phone released by Alcatel owner TCL.