Learn English – What does ‘cut each other off’ mean

Take at look at this list of idioms, and observe the entry for "cut the mustard."

Figurative use of "mustard" as a positive superlative dates from 1659 in the phrase "keen as mustard", and use of "cut" to denote rank (as in "a cut above") dates from the 18th century.

The term "mustard" here may be a corruption of "muster," or ability to accomplish a task - suitability (viz: to pass muster).

Ergo, it's quite likely that the expression in question has ellided the word "mustard," as "to cut it" is now a standalone idiom in its own right. As snumpy notes above, the meaning is that "The Blackberry is no longer good enough for general business users."

It means to reduce the odds. In the previous paragraph, they explain that the odds had been 4-6 but were cut to 1-3.

Outside of that kind of context (where you're talking about odds literally), the phrase can also mean to take action that would reduce the odds. So for example you may change your diet to cut the odds of a heart attack.