BlackBerry stock falls after Apple-IBM deal

Montreal - Blackberry stock fell sharply on Wednesday, one day
after the announcement of a landmark deal between rivals Apple
and IBM to offer custom-tailored apps for businesses.
At around 16:40 Blackberry shares were down 5.58% to $10.68,
after falling 6.3% when the markets opened in New York.
Blackberry helped create a culture of mobile users glued to
smartphones, but consumers have moved in droves to iPhones and
devices using Google's Android software. The deal between Apple
and IBM seemed likely to hasten the Waterloo, Ontario-based
company's demise.
After posting record losses last year, Blackberry brought in new
management and outsourced its handset production to Taiwan-
based Foxconn.
The company said it sold 2.6 million smartphones in the last
quarter. Hardware sales accounted for 39% of its revenues, while
services grew to 54%. The remainder came from software and
other sources.