Is BlackBerry really giving up smartphone business?
BlackBerry’s move from its own smartphone platform to Android did no good to it. And after reporting $372M loss, it has announced to quit the smartphone industry.
- Fariha Khan
- September 29, 2016
A few months following the Android-powered Priv has various issues including slow sales and high return rates. As a result, BlackBerry has made up its mind not to continue with the hardware business completely.
BlackBerry to lean on partners
The company has suffered a net loss of $372M. The company expressed that it will stop smartphone development on its own and reply on partners for any future needs.
This allows us to reduce capital requirements and enhance return on invested capital CEO John Chen
explained. He also claimed that BlackBerry
’s switch to selling software is ‘taking hold’. Its software revenue has doubled up year-on-year, he also asserted.
The firm’s shares increased 6% in pre-market trading on the news, all the same this is probably in response to lower-than-expected losses.
Goodbye and good luck Blackberry
It is time to say goodbye to BlackBerry. Let us wait and see the company takes a plunge into the world of smartphones ever again.