Announcement comes as Waterloo, Ont., firm reported massive US$4.4-billion loss in quarter
WATERLOO, Ont.—BlackBerry Ltd. is entering a strategic partnership with a Taiwan-based electronics contractor to build devices for emerging markets, the firm announced.
The Waterloo, Ont.-based company announced it agreed to the five-year partnership with Foxconn, which makes devices for BlackBerry rival Apple Inc., the same day it announced a massive third quarter loss of US$4.4-billion.
The partnership will see Foxconn build a smartphone for Indonesia and other emerging markets in early 2014.
“This partnership demonstrates BlackBerry’s commitment to the device market for the long-term and our determination to remain the innovation leader in secure end-to-end mobile solutions,” Blackberry CEO and executive chair John Chen said in a statement.
“Partnering with Foxconn allows BlackBerry to focus on what we do best—iconic design, world-class security, software development and enterprise mobility management—while simultaneously addressing fast-growing markets leveraging Foxconn’s scale and efficiency that will allow us to compete more effectively.”
Under the partnership, Foxconn will manufacture products for BlackBerry at facilities in Indonesia and Mexico.
“BlackBerry is an iconic brand with great technology and a loyal international fan base,” Foxconn chair Terry Gou said. “We are pleased to be working with BlackBerry as it positions itself for future growth and we look forward to a successful strategic partnership in which Foxconn will jointly develop and manufacture new BlackBerry devices in both Indonesia and Mexico for new and existing markets.”