BlackBerry to Take Nearly $1B Charge on Unsold Phones tells the Wall Street Journal. Of course, that publication is more interested in the money. More grievous to me is the layoff of 4500 employees.
The whole story saddens me. It once had over half of the smartphone market, but now has less than 3 percent. I was very happy with my BlackBerry for 4 or 5 years until I purchased an Android three years ago.
Economists describe this as creative destruction - how market forces choose better businesses. As an engineer, I consider it an example of zero-sum. With finite or limited resources, the only way someone accumulates great wealth is at the expense of others.
Nokia once was the king of cellphones, but they were recently purchased by Microsoft, or else they would have suffered a fate similar to Blackberry.