The once potent company has decided to throw in the towel for good, but it’s making money by focusing on its other strengths.
A decade ago, no brand could rival the brand BlackBerry.
However, fast-forward to 2016, and brands such as Samsung and Apple have extended their reach and dominated the tech and digital industry.
This could possibly be the reason why the once dominant cellphone brand has decided to throw in the towel for good.
BlackBerry officially announced on September 29 that they would not be manufacturing any smartphones going forward, after 14 years.
This is the new strategy is part of Blackberry’s Fiscal Q2 2017 report:
“Under this strategy, we are focusing on software development, including security and applications. The company plans to end all internal hardware development and will outsource that function to partners. This allows us to reduce capital requirements and enhance return on invested capital.”
“Strong uptake of BlackBerry software, including in enterprise mobility, crisis communications and connected cars, drove a second-straight quarter of operating profitability for BlackBerry,” Blackberry blogger Eric Lai writes.
CEO John Chen said that the company was on track to grow software and services revenue by 30% for the full financial year 2017 and profitability looked set to continue to rise as BlackBerry eased out of smartphone hardware and leveraged third parties to manufacture its branded smartphones.
BB is set to concentrate on developing security and productivity software. They also licensed the operation of its BlackBerry Messenger (BBM) consumer service to an Indonesian partner.