April 4, 2013 9:19pm
Export Development Canada, the country’s credit agency for products and companies that do business outside our borders, have announced a €200 million (approximately $260 million CDN) “working capital facility” to one of the world’s largest mobile operators, Telefónica, for “the procurement of BlackBerry smartphones, services and solutions across its worldwide operations.”
The Spain-based company will receive an undisclosed number of BlackBerry smartphones as well as infrastructure to power BIS and BES throughout its operations in 24 countries. The company already has carrier billing in place in Latin America with partner Bango, and developing nations are one of the few countries in which the market is still quite lucrative for BB7 handsets.
The capital will likely allow Telefónica to sell BlackBerry products at a reduced rate to further incentivize sales, something the Canadian OEM needs after a tepid but slightly profitable quarter.