BlackBerry Is Toast

Amid the bandwidth crunch of iPhone users downloading Apple's (AAPL) iOS 7 and the rapid investor and trader eyeballs lapping up the news that the Federal Reserve did not taper its stimulus program, would-be smartphone maker BlackBerry (BBRY) shared that it is preparing to slash up to 40% of its staff by year's end. What makes this announcement stand out even more is that BlackBerry launched its new Z30 flagship smartphone earlier today.

The headcount chop (I say chop because up to 40% is not a trim and certainly not a cut) likely follows tepid interest among private equity players for the company as it stands today. While some will make the argument that BlackBerry has a nice patent portfolio, the reality is that its market share continues to erode, its BlackBerry 10 operating system is not a standout, and its new devices are not gaining traction....366 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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