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BlackBerry Falls Most in a Year as Chen Plans More Smartphones

  • Chen sticks with plan to make profit on handset business
  • BlackBerry to intoduce another Android phone this year

BlackBerry Ltd.’s stock slid to its worst day in almost a year, in line with a broader market selloff, after Chief Executive Officer John Chen said the smartphone maker would unveil at least one more Android device this year.

New handsets indicate more costs and less profitability in an industry where BlackBerry’s global market share has slipped below 1 percent. Shares fell 8.5 percent to $8 at Thursday’s close in New York, its biggest decline since January 2015. The Nasdaq Composite Index fell 3 percent, part of a slump in global equity markets this week.