The Canadian smartphone maker just doesn't want to give on the company's hardware business despite bad sales. The company has now reported a $670 million US net loss in the last three months, almost triple the loss it made in the previous quarter of the year.

Still, BlackBerry has said that the losses for the whole year would be lower than expected. Revenue dropped to $400 million in the three months to May 31, down 39 percent from $658 million a year earlier. The company's CEO still plans to launch two new mid-range phones in the next nine months, one of them as early as July.