Blackberry makes a big comeback as a Software company

QWERTY keyboards in phones take us back to the glory of Blackberry that used to be extremely popular on Wall Street with numerous business consumers, governments, and celebrities. Kim Kardashian and Barack Obama have been very well known fans of the Blackberry phones. The company did struggle to adapt the smartphone revolution and lost its market share to Apple and Samsung. The company was inherited by John Chen when it was in turmoil. It took many years for the CEO to clean up the balance sheet of debt for Blackberry. And now, the company under the leadership of Chen is making a comeback.

The Blackberry Company is rising as a software company and has shown record software revenue. It has reported revenues up to $249 million chattering analyst’s expectations of $220 million. The revenue increased 26 percent year over year and came to $996 million. Gross margins of 26% were also shared by the company which increased from 67% last quarter and 62% a year ago.

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For now, Blackberry is on a path which was considered impossible five years ago. The company was thought to be dead after its phone business ended because of the smartphone evolution by Apple and Samsung. When the company got under Chen’s supervision it had very bleak chances to strive in the cellphone market. Almost everything was against it except the cash that was acquired by the popularity it once had in the beginning. That cash was well used by Chen and he made some important purchases which helped the company to rise up once again.

Before Chen got the control of Blackberry it was almost dead. But by looking at the old charts, it is clearly visible that it was once the leader of the smartphone market.

The market has shifted when Chen took over.

Chen has proved that the company has recovered from the past and its time to create the image people had in the 90s when they used to frantically type on their Blackberry devices.

Via: Tech Crunch

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