(MENAFN) BlackBerry announced that it is now focusing on profitability and will not spread itself thin by attempting to launch too many new devices, Gulf News reported.

The smartphone-maker, which has completed the first phase of its two-year turnaround plan, has moved rapidly to try to get the one-time investor darling back on track.

The company has sold assets, struck partnerships to lower manufacturing costs and broaden app offerings, and raised cash via the sale of real estate holdings in its hometown of Canada.

"Once we turn this company to profitability again, I will do everything I can to never lose money ever again. That is definitely something I am very focused on doing," chief executive said.