tech:

taffy

BlackBerry Takes A $900M+ Hit On Unsold Phones, Laying Off 4,500

BlackBerry_1BlackBerry is laying off 4,500 employees as the company takes a quarterly loss of $930 to $960 million. The smartphone-maker released the numbers a week ahead of its earnings call.

BlackBerry’s loss is primarily the result of unsold inventory, specifically BlackBerry Z10 devices, as well as a $72 million hit in corporate restructuring costs.

Thorsten Heins (President and CEO, BlackBerry): We are implementing the difficult, but necessary operational changes announced today to address our position in a maturing and more competitive industry, and to drive the company toward profitability.  Going forward, we plan to refocus our offering on our end-to-end solution of hardware, software and services for enterprises and the productive, professional end user.

BlackBerry expects revenues for the second quarter of approximately $1.6 billion, of which approximately 50% is expected to be service revenue. For the second quarter, the company expects to recognize hardware revenue on approximately 3.7 million BlackBerry smartphones.

During the second quarter, approximately 5.9 million BlackBerry smartphones were sold to end customers.

[Image courtesy: BlackBerry]

You may also be interested in:

 

Just in

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.