MashBlur

Struggling BlackBerry has inked a five-year deal with Foxconn to make phones for the Indonesian and other "fast-growing markets" following a $4.4 billion third-quarter loss.
In a press release explaining the move, CEO John Chen said he sees those foreign markets as a key to a BlackBerry turnaround.

"This partnership demonstrates BlackBerry’s commitment to the device market for the long-term and our determination to remain the innovation leader in secure end-to-end mobile solutions,” Chen said. “Partnering with Foxconn allows BlackBerry to focus on what we do best –- iconic design, world-class security, software development and enterprise mobility management — while simultaneously addressing fast-growing markets leveraging Foxconn’s scale and efficiency that will allow us to compete more effectively."
The move comes as BlackBerry has reported a GAAP loss of $4.4 billion for its third quarter. Revenues for the quarter were $1.2 billion, down 24% from the previous quarter. During the quarter, the company "recognized hardware revenue" on about 1.9 million BlackBerry smartphones compared to 3.7 million in the previous quarter.
Investors seem to like the direction: BlackBerry's stock was up about 3% in premarket trading.
The Asia Pacific market hasn't been a huge source of revenues for BlackBerry. According to the company, the region accounted for $169 million in sales, or 14.2%, in the third quarter, almost exactly the same proportion as a year ago.