BlackBerry CEO Asks Investors for Patience in Turnaround
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BlackBerry Ltd. Chief Executive Officer Thorsten Heins asked investors for patience at the company’s annual meeting today, following a surprise quarterly loss last month that raised concerns about its turnaround.
The company only introduced its new line of BlackBerry 10 devices about five months ago, and early sales aren’t an indication of its long-term prospects, he said at the meeting, held in BlackBerry’s hometown of Waterloo, Ontario. The new flagship Z10 phone missed estimates in its first full quarter on sale, contributing to a 28 percent stock plunge on June 28.