BlackBerry's Business Continues to Shrink

Former mobile phone market leader BlackBerry saw its share price drop by more than 12 percent on Friday, after the Canadian company had reported quarterly earnings that missed analysts’ expectations.

BlackBerry’s revenue dropped by more than 40 percent year over year, mainly due to a 75 percent decline in mobile device sales. BlackBerry officially announced the end of its days as a mobile handset maker in September 2016, planning to focus on enterprise software instead. The company’s smartphone business hit rock bottom later that year, when the market share of BlackBerry OS hit 0.0 percent in Q4 2016, according to Gartner.

As our chart illustrates, what is left of BlackBerry is miles away from where the company stood in its prime. In the fiscal quarter ending May 31, 2017, BlackBerry’s revenue amounted to $235 million, down 95 percent from $4.91 billion six years earlier.