Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News

 

Blackberry Gives Glimpses Of Turnaround Strategy

Dec 20 2013, 2:31pm CST | by

10 Updates
Blackberry Gives Glimpses Of Turnaround Strategy
Photo Credit: Forbes
 
 

Comments

Recommend Your Tweet as Top Tweet:

Full Story

Blackberry Gives Glimpses Of Turnaround Strategy

Like others reporting news on Blackberry, usually an easy butt of jokes, I was prepared for the worst, or best if you like jokes. Naturally, I expected the company’s earnings to undershoot already bleak expectations. This proved true. Blackberry reported a $4.4 billion loss on a 56% decline in revenue to $1.6 billion for 3Q14 today as it continues to lose customers.

But Blackberry is finally beginning to address the big question: How does it propose to improve business? This question, according to reports, was on the mind of possible buyers of the Canadian smartphone maker in the last few months. Buyers got no answer and decided to acquire nothing.

This morning, Blackberry “highlighted a definite path” to a potentially sound future during the company’s earnings call, said Neeraj Monga, analyst at Veritas Investment Research. Blackberry’s focus will be on enterprise mobility and security, said John Chen, Blackberry’s CEO of 45 days. Blackberry will not necessarily sell noncore assets but will, perhaps, find partnerships to allow itself to mitigate risk and pay more attention to areas of strength.

To that end, Blackberry announced a five-year agreement with cell phone manufacturer Foxconn to ease the burden of manufacturing hardware. The company’s also aligning business units in these four categories: enterprise, messaging, QNX embedded business and devices.

Blackberry’s stock was up 15% in afternoon trading.

The company has yet to clearly articulate its turnaround strategy, but Monga is hoping for that within the next 45 days, he said.

Alan Dabbiere, chairman of mobile device management startup AirWatch, who was public about his interest in acquiring some of Blackberry, said he’s hopeful for a more vigorous partnership effort on Blackberry’s part, a “deliberate strategy” concerning what the company does and does not do. Dabbiere believes the “pivotal” Blackberry asset is QNX, an operating system for uses in cars, communications hardware and industrial goods. QNX moves Blackberry from cell phones to many markets, “billions” of devices to “trillions,” Dabbiere said.

The specter of Nortel, a Canadian telecom equipment maker which filed for bankruptcy in 2009, and only at that point sold in chunks, looms over Blackberry without a clear, new direction, said Dabbiere and a sector banker. If Blackberry wants to remain “viable,” it has about six months to solidify its plan and another couple of years to execute, Dabbiere estimated.

When asked if Blackberry had a turnaround plan, a spokesperson referred me to the company’s earnings release today.

Source: Forbes

 

You Might Also Like

Updates


Sponsored Update

Update: 10

MRCB, Nusa Gapurna and PKNS settle suit over RM3 billion PJ Sentral project

Source: Malaysia Today

(The Malaysian Insider) – Malaysian Resources Corp Bhd (MRCB), Nusa Gapurna Development Sdn Bhd (NGD) and PKNS Holdings Sdn Bhd have reached an out-of-court settlement ov ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 21 2014, 2:53am CDT
 


Advertisement


Update: 9

Story behind Syed Mokhtar’s ‘RM2.25 billion tax-exempt’ Bernas deal revealed, says PKR MP

Source: Malaysia Today

(The Malaysian Insider) – An innocuous written reply in Parliament has provided a peek into the cosy relationship between the Najib administration and Malaysia’s best-known businessman, Ta ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 15 2014, 12:56pm CDT
 

More From the Web

Update: 8

Constitutional monarchy still murky concept

Source: Malaysia Today

After the RM4.5 billion land sale, the Sultan of Johor secured a 15% stake in MOL Access Portal (MOL) for RM396 million and took a 20% stake in Berjaya Times... REA ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 14 2014, 12:37am CDT
 

Update: 7

Sultan of Johor’s RM4.5 bil backlash?

Source: Malaysia Today

49th Karlovy Vary International Film Festival
Has Sultan Ibrahim of Johor’s succession of big money deals over the last six months caused the tide of public opinion to turn against Johor’s royal palace? KiniBiz examine ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 11 2014, 8:49am CDT
 

Update: 6

Putrajaya denies carpet dealer given interest-free loan

Source: Malaysia Today

Eileen Ng, The Malaysian Insider Putrajaya today refuted allegations that Bank Rakyat had allowed carpet dealer Deepak Jaikishan to repay a RM32 million loan without interest following intervention from ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 11 2014, 5:44am CDT
 

Update: 5

Malaysia Spends Over $9 million on MH370 Hunt: Report

Source: NDTV

49th Karlovy Vary International Film Festival
Malaysia has so far spent about RM27.6 million (over $9 million) on search operations for missing Malaysia Airlines flight MH370, an official said on ...
Source: NDTV   Full article at: NDTV Jun 9 2014, 3:12am CDT
 

Update: 4

Bill for Kidex likely to soar to RM3.4b

Source: Malaysia Today

The original RM2.4 billion tag on the proposed highway did not take into account the cost of acquiring the land mostly in the urban areas, claims an assemblywoman Fabia ...
Source: Malaysia Today   Full article at: Malaysia Today Jun 9 2014, 2:51am CDT
 

Update: 3

MACC: No elements of graft in Bank Rakyat’s loan to businessman

Source: Malaysia Today

BET AWARDS '14 - Red Carpet
(Bernama) – The Malaysian Anti-Corruption Commission (MACC) found no elements of corruption in Bank Rakyat’s RM32 million interest free loan to a businessman. MACC in a statement today said initial. ...
Source: Malaysia Today   Full article at: Malaysia Today May 31 2014, 9:33am CDT
 

Update: 2

IHH Healthcare posts 25% rise in 1Q earnings to $62 mil

Source: The Edge Singapore

IHH Healthcare Berhad announced that revenue grew by 8% y-o-y to RM1.8 billion ($703 million) for 1Q2014 ended March, as earnings grew 25% YoY to RM159.1 ...
Source: The Edge Singapore   Full article at: The Edge Singapore May 29 2014, 11:29am CDT
 

Update: 1

Hasan Malek evades media over RM32 million Bank Rakyat loan scandal

Source: Malaysia Today

Elizabeth Zachariah, The Malaysian Insider The minister embroiled in the RM32 million Bank Rakyat loan scandal refused to take questions from the press today at an event in Kuala Lumpur.... REA ...
Source: Malaysia Today   Full article at: Malaysia Today May 28 2014, 11:42pm CDT
 

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/31" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

 

Comments

blog comments powered by Disqus

Latest stories

Andre Johnson Being Eyed By 4 Teams
Andre Johnson Being Eyed By 4 Teams
Four teams are said to be interested in trading for Houston Texans wide receiver Andre Johnson, per NFL.com.
 
 
Michael Irvin's Wife Told By Cris Carter to Leave Him
Michael Irvin's Wife Told By Cris Carter to Leave Him
Hall of Fame Dallas Cowboys wide receiver Michael Irvin revealed in a recent Dan Le Batard that fellow Hall of Fame wide receiver Cris Carter told his wife to leave him at the height of his cocaine addiction.
 
 
iPhone 6 Will Feature Dynamic Haptic Feedback Technology
iPhone 6 Will Feature Dynamic Haptic Feedback Technology
Every touch is now going to get a vibration in your next gen iPhone
 
 
Apple Starts Receiving New Processors For iPhone 6 From TSMC
Apple Starts Receiving New Processors For iPhone 6 From TSMC
Apple no longer dependent upon Samsung