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BlackBerry records $23 million net income

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TORONTO – BlackBerry surprised Wall Street by posting financial results that beat analysts’ expectations.

Shares rose almost 12 percent in morning trading as CEO John Chen cut expenses quicker than expected.

The embattled smartphone company reported net income of $23 million, or 4 cents per share, for the three months ended May 31. It had reported a loss of $84 million, or 16 cents per share, a year ago.

Excluding unusual items, its adjusted loss was 11 cents per share in the latest period. Analysts surveyed by FactSet expected a loss of 35 cents per share.

Revenue fell to $966 million from $3.07 billion a year ago. Analysts expected revenue of $961.7 million.
Shares rose 96 cents, or 11.6 percent, to $9.25 in morning trading.

“We are getting very close to making money or at least break even on hardware. Not quite there yet, but close,” Chen said on a conference call with analysts.

It is the third quarterly results under Chen, who is deemphasizing the hardware business after last year’s launch of the BlackBerry 10 failed to spark a turnaround. The BlackBerry has been hammered by competition from the iPhone as well an Android-based rival.

“He’s doing exactly what John Chen should be doing. He’s right sizing the business to fit demand. He is focused in the areas where he is still relevant. He’s cut partnerships to shore up weaknesses,” said Colin Gillis, an analyst at BGC Partners. “If they can get this business where they are selling a million phones a month they’ll be a nice little niche. It will be a nice little profitable business.”
BlackBerry sold 2.6 million phones in the quarter and reported cash and investments of $3.1 billion. Chen said 80 percent of BlackBerry’s 50 million subscribers are business users.

“People stay with BlackBerry because they’re enterprise users, there’s high productivity and security. I would say 80 percent of that 50 million is this perfect base for us,” Chen said.

Chen said the company will launch a new keyboard smartphone model called the BlackBerry Passport in London in September followed by the previously announced Classic in November.

Chen, who is credited with turning around Sybase, a data company that was sold to SAP in 2010, has been putting more emphasis on BlackBerry’s mobile device management business, a collection of software that allows IT departments to manage different devices connected to their corporate networks. He has also emphasized BlackBerry’s popular BlackBerry Messenger application that is now also available on Apple and Android devices. And he’s tried to highlight Blackberry’s embedded QNX software systems, which are used in-vehicle infotainment systems and industrial machines.

BlackBerry announced Wednesday that it is adding the Amazon Appstore to its phones. That will give users of the newest BlackBerry operating system easy access to thousands more of the most popular Android apps and games. The struggling smartphone maker has been criticized for the lack of applications available for its devices.

BlackBerry announced last December that it entered into a five-year partnership with Foxconn, the Taiwanese company that assembles products in vast factories in China. Foxconn, known for its manufacturing contract work on Apple’s iPhones and iPads, jointly designs and manufactures most BlackBerry devices and manages inventory of the devices in an agreement that offloads much of BlackBerry’s manufacturing costs. Chen has said for months that he’ll be happy to break even or make a small profit on the device business.

– ARABA NEWS

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ITREALMS E-Waste Dialogue Partners EPRON, EL-AS Tech, WEE-Eco

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In efforts at spicing up the 2023 ITREALMS E-Waste Dialogue, the management of ITREALMS Media has partnered with E-waste Producer Responsibility Organization of Nigeria (EPRON) membership organisations for a day-long collection scheme of small electronic waste on Friday, December 15, 2023.

The EPRON members aligning their partnership with 2023 ITREALMS E-Waste Dialogue are EL-AS Tech Enterprises Limited and WEEE Eco-Friendly.

ITREALMS’ day-long collection scheme is part of the commemoration of 2023 international E-Waste Day (IEWD) within the ITREALMS E-Waste Dialogue with the theme “You Can Recycle Anything with a plug, battery or cable” at Welcome Centre Hotels, International Airport Road, Lagos.

Revealing this collaboration, the Group Executive Editor, ITREALMS Media, the organisers of the 2023 ITREALMS E-Waste Dialogue, Sir. Remmy Nweke, urged mobile device enthusiasts to come along with their devices that have reached their end-of-life to the venue for proper disposition by professionals who would also be on grounds to address some topical issues.

The collection of small electronic wastes especially mobile phones and like-devices, would be carried out by EPRON member organisation, EL-AS Tech Enterprises Limited as facilitated by ITREALMS Media group as part of this year’s ITREALMS E-Waste Dialogue on Friday, December 15, he added.

He disclosed that the exercise would commence at Welcome Centre Hotel by 9am till close of work hours the same day.

Nweke pointed out that the collection of small e-waste items would include mobile phones, pointers mouse, earpieces, rechargeable torches, phone chargers, to name a few.

Further, he said, that this initiative has become time-serving because some people may have missed any other opportunity before now for the year-long campaign, hence this awareness on e-Waste has to be continuous, “ITREALMS came up with this scheme.”

Nweke beckoned on Nigerians, especially mobile phone users, to leverage the opportunity in disposing of their mobile devices they no longer use, of course in exchange for a voucher or gift item.

In her reaction to this year’s day-long small waste collection, EPRON Executive Secretary, Mrs. Ibukun Faluyi, described the initiative as commendable, expressing confidence it would intensify the collection of end-of-life devices for proper disposition.

Mrs. Faluyi, also urged Nigerians to take advantage of this day-long collection of small wastes courtesy of ITREALMS Media.

Recalling for instance that in October 2022, EPRON had partnered SLOT alongside some UN agencies for collection of small e-waste items in Lagos, including the United Nations Information Centres (UNIC), United Nations Industrial Development Organization (UNIDO), International Labour Organisation (ILO), Lagos Waste Management Authority (LAWMA) and Lagos State Environmental Protection Agency (LASEPA).

This is even as the Executive Vice Chairman of the Nigerian Communications Commission (NCC) Dr. Aminu Maida and Director-General, National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Aliyu Jauro, would both lead speakers at the 2023 ITREALMS E-Waste Dialogue slated for this Friday, December 15, in Lagos.

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iPhone 15: Things To Know About Apple’s Newest Model

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iPhone 15: Things To Know About Apple's Newest Model

Today, September 12, the tech corporation Apple will introduce the iPhone 15, their newest iPhone model.

According to a Forbes story, this model, which will be introduced at the company’s “Wanderlust” event in Cupertino, California, will be available in four variations: the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max.

Here are five things you should know about the new iPhone 15 model.

1. The new model is made of titaniu, not stainless steel as some other Apple smartphone models, Senior research analyst at DIGITIMES, Luke Lin reports.

2. The Pro Max model will feature double the optical zoom on the iPhone 14 as it comes with a newly-introduced ‘periscope lens upgrade, performing 5-6x optical zoom.’

3. The Pro models will carry an A17 bionic chip expected to make it perform faster.

4. The iPhone 15 model will feature a USB-C charging port, the same port featured on some Android phone models.

5. Due to its titanium shell, the new model is anticipated to be more expensive to purchase. The following is the speculated price list, as reported by Forbes:
The iPhone 15 starts at $799, the iPhone 15 Plus at $899, the iPhone 15 Pro at $1,099 ($100 increase), and the iPhone 15 Pro Max at $1,299 ($200 increase).

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FG Partner With Firm, Set To Introduce 500 Autogas-Powered Buses

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FG Partner With Firm, Set To Introduce 500 Autogas-Powered Buses

In an effort to reduce the exorbitant cost of Premium Motor Spirit, better known as petrol, the Infrastructure Bank Plc announced its collaboration with FEMADEC Group on Monday to offer 500 buses powered by autogas (Compressed Natural Gas).

Partners in the agreement claimed that the project was created to provide citizens with dependable, affordable, and environmentally friendly travel options, taking into account the negative effects of the nationwide increase in PMS costs.

Under Decree No. 51 of the Federal Republic of Nigeria’s 1992 Constitution, the Infrastructure Bank, originally known as the Urban Development Bank of Nigeria Plc, was founded in 1992 to promote the quick development of infrastructure throughout the nation.

In a statement issued in Abuja on its partnership with FEMADEC, the bank said, “The preliminary offer extended by TIB lays a solid foundation for the expansion of FEMADEC Group’s CNG bus fleet.

“With plans to introduce 500 CNG buses within the next five years, commencing with an initial batch of 50 buses in the forthcoming year, this proposal stands poised to instigate significant change.

“The acceptance of this proposition by FEMADEC Group, notably championed by Fola Akinnola, the Group Chief Executive Officer, is a testament to their zeal and dedication to this alliance.”

The bank described the partnership as a “pivotal endeavour that is primed to redefine Nigeria’s public transportation landscape, offering dependable, cost-effective, and ecologically conscious travel alternatives for citizens, while harmonising with the nation’s broader sustainability ambitions.”

“This partnership represents a remarkable stride towards a more ecologically aware future for Nigeria’s transportation sector, highlighting the shared commitment of both TIB and FEMADEC Group to sustainable advancement and progress.”

It said FEMADEC Group’s strides in operating Compressed Natural Gas buses, including the existing fleet of 20 CNG buses under LAMATA, underscored their unwavering dedication to ecologically sound solutions, a commitment predating the fuel subsidy removal.

“Their leadership within the CNG value chain is undeniable, and the new alliance with TIB underscores their foresight.

“This partnership seamlessly aligns with TIB’s sustainability objectives, echoing their resolute endorsement of the government’s net-zero and climate change agenda.

“The bank’s aspiration to champion Nigeria’s infrastructure progress is evident in its endorsement of pivotal initiatives like this, yielding expansive positive impacts on both the environment and society,” the bank stated.

The bank added that it would continue to make a significant contribution to the country’s growth as a leading financial institution committed to advancing effective and long-lasting infrastructure projects.

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