BlackBerry hits bump in turnaround road, shares plunge

BlackBerry’s total market value plunged by more than one-fourth on Friday after the smartphone maker reported dismal quarterly results, prompting ever-deeper skepticism about a long-promised turnaround.

BlackBerry, which has struggled to claw back market share from the likes of Apple Inc’s iPhone, Samsung Electronics Co Ltd’s Galaxy phones and other devices powered by Google Inc’s Android operating system, reported a loss in the fiscal first quarter ended June 1, and sales of its make-or-break new line of devices were softer than expected.