BlackBerry’s New Phone Switches to Android
BlackBerry CEO John Chen said the company has found the low-point of its turnaround after second-quarter revenue plummeted and smartphone shipments hit their lowest since at least 2007.
Mr. Chen reassured investors he’ll bring in $500 million in software revenue by March 2016 and stabilize shrinking device sales with the help of a new phone called the “Priv” that runs Google’s Android operating system. Total revenue will rise slightly next quarter, the CEO said on a conference call Friday.
The chief executive has been working to transform BlackBerry from the shrinking smartphone maker he inherited two years ago into a leading provider of security software for businesses. Revenue has continued to drop quarter after quarter even as Mr. Chen managed to post profits earlier this year by cutting costs. With smartphone sales still accounting for about 40% of revenue, the company has continued to announce new devices.
