BlackBerry CEO Says Exiting Handsets is Possible if Not Profitable and Bank of America Reaches $783M Agreement to Pay Back Customers
BlackBerry Limited (NASDAQ: BBRY) is not saying no to the possibility of exiting its handset business if it remains unprofitable. The company’s chief executive officer confirmed this as the company looks to expand its corporate reach with investments, acquisitions and partnerships. "If I cannot make money on handsets, I will not be in the handset business," John Chen said in an interview. At its peak, the company shipped 52.3 million devices in fiscal 2011. The company recorded revenue on less than 2 million last quarter.
BlackBerry Limited provides wireless communications solutions worldwide. The company offers BlackBerry wireless communications platform solution, which includes the sale of BlackBerry handheld devices; and the provision of data communication, and compression and security infrastructure services enabling BlackBerry handheld wireless devices to send and receive wireless messages and data. Its technology also enables third party developers and manufacturers to enhance their products and services through software development kits, wireless connectivity, data, and third-party support programs.
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Bank of America Corporation (NYSE: BAC) has reached a $783 million accord with regulators and will have to pay back millions in refunds to many credit card holders with the bank. According to Bloomberg, the firm deceptively sold debt cancellation and identity theft-protection products to millions of consumers. The deal with agencies, including the Consumer Financial Protection Bureau, calls for $738 million in refunds and $45 million in penalties.
Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, corporations, and governments in the United States and internationally. The company’s Consumer & Business Banking segment offers traditional and money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards; and lending related products and services, working capital management, and treasury solutions
Get more information on Bank of America Corporation free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/BAC
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