BlackBerry expects losses of £621.1 million

BlackBerry Ltd warned that it expects to report a huge second-quarter operating loss next week and that it plans to cut more than a third of its workforce.

The company, which has struggled to claw back market share from the likes of Apple's iPhone, Samsung Electronics Co Ltd's Galaxy phones, said it expects to report a net operating loss of about $950 million to $995 million (£621.1m) in the quarter ended August 31, due to writedowns and other factors.

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BlackBerry to cut 40% of staff

Phone company BlackBerry has announced it is to make 4,500 employees redundant - around 40 per cent of its global workforce.