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Blackberry CEO says Foxconn to share margin in deal - CNBC

Reuters

TORONTO (Reuters) - Blackberry Ltd (BB.TO)(BBRY.O) will share its profit margin with Foxconn Technology Co Ltd (TAI:2354) after securing a minimum return, BlackBerry's chief executive told CNBC television on Friday.

Asked what Foxconn gets from the deal, in which the world's largest manufacturer of electronic products will take on inventory and manufacturing costs, BlackBerry CEO John Chen said: "Margin. We will get a certain amount of return. I'm not going to be able to articulate that because this is a proprietary contract, and beyond that certain amount, they will start sharing with us on margins."

(Reporting by Alastair Sharp; Editing by Jeffrey Benkoe)