BlackBerry Ltd. (BB), the struggling Canadian smartphone maker, signed a five-year strategic partnership to create devices for Indonesia and other fast-growing markets next year.
Foxconn will manufacture products for BlackBerry at facilities in Indonesia and Mexico, according to a statement today. BlackBerry will own all of its intellectual property and perform product assurance on devices through Foxconn, the world’s largest manufacturer of electronic products.
Terms of the transaction weren’t disclosed.
BlackBerry also reported a third-quarter loss of 67 cents a share today from continuing operations. Analysts had forecast 46 cents on average, according to data compiled by Bloomberg. Sales for the period were $1.19 billion, missing the $1.59 billion estimates.
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