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BlackBerry revenue drops 64% amid low BB10 adoption

BlackBerrry revenue has taken a tumble while under a third of BlackBerry phones sold last quarter used BB10.

BlackBerry seems to be having some trouble getting consumers to move across to the BlackBerry 10 operating system.

BlackBerry CEO John Chen speaking at an event at Mobile World Congress in late February. (Credit: Brian Bennett/CNET)

In fact, of the 3.4 million phones the company sold in the fiscal fourth quarter of last year, only 1.1 million were BB10. The company even committed to keeping the BB07 running BlackBerry Bold alive, inking a deal with a new manufacturer to continue producing the iconic handsets.

It may well prove to be an excellent idea for the company. BlackBerry had a fourth-quarter loss of US$423 million, with revenue falling 64 per cent to US$976 million.

Interestingly, analysts were forecasting a greater loss for the embattled smartphone maker, so BlackBerry shares were actually up a little in pre-market trading over the weekend.

However, CEO John Chen remains bullish about BlackBerry's future, saying the company will be cash flow positive for the next four quarters and profitable by fiscal 2016.

Previously he's shown off the two next handsets coming soon, the low-cost Z3 and keyboard-enabled Q20. The company is also focusing on its BBM service and QNX software business. BBM, Chen noted, still has 85 million active monthly users.