BlackBerry goes into the red as revenue drops by a third

It looks as though BlackBerry CEO John Chen will still be in charge long enough to launch another couple of phones — although don’t expect any new flagship models.

Chen was re-elected chairman of the board for another year on Wednesday.

He still plans to launch two new mid-range phones in the next nine months, one of them as early as July. They’ll be cheaper than the Priv, BlackBerry’s first Android phone, but with the same level of security, he said Thursday.

Shareholders might not have given him such strong support if they’d seen the numbers the company reported Thursday for the first quarter of its 2017 financial year.

Revenue dropped to US$400 million in the three months to May 31, down 39 percent from $658 million a year earlier.

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