BlackBerry's shares soared 12% in trading after the company announced a five-year deal with Taiwanese manufacturer Foxconn this afternoon. The Taiwanese company is best known for its engineering work with Apple on iPhone. The Foxconn product is expected to launch in March or April.

BlackBerry CEO John Chen said the most important motivation of the agreement will be producing a smartphone for Indonesia and "other fast-growing markets." Foxconn will create phones in facilities in Indonesia and Mexico as part of the arrangement.

BlackBerry reported $1.2 billion in income in its third quarter, down from $2.7 billion the year before. BlackBerry reported a loss of $4.4 billion, while its adjusted losses from continuing operations hit $354 million, or 67 cents per share.

The new round of losses arrives as BlackBerry shifts to new management. This is the first quarterly report under Chen, who replaced Thorsten Heins last month. BlackBerry's organization shakeup follows the decision to pull back from a potential deal in favor of a $1 billion venture from Fairfax Financial Holdings.

"We have accomplished a lot in the past 45 days, but still have significant work ahead of us as we target improved financial performance next year," Chen said in an announcement.

For the quarter, BlackBerry sold 4.3 million smartphones, but the most profitable products were older devices running the BlackBerry 7 operating system.

According to USA Today, Blackberry is "shifting more focus to enterprise services and messaging, including its BlackBerry Messenger service. making "enterprise services and messaging, including its BlackBerry Messenger service it."

The corporation will continue creating devices.

"The most immediate challenge for the company is how to transition the devices operations to a more profitable business model," Chen said.