BlackBerry stops production of phones in-house to Focus solely on if software production
The Canadian company, which has faced an onslaught of
competition from Apple AAPL +0.75%, Samsung and other smartphone makers, will
start outsourcing the production of its phones to outside partners, it said on
Wednesday.
The move represents BlackBerry’s efforts to reposition
itself as a software company and will free up resources that were previously
spent on its struggling hardware business.
“We are reaching an inflection point with our strategy,”
said CEO John Chen in prepared remarks. “Our financial foundation is strong,
and our pivot to software is taking hold.”
BlackBerry phones used to be ubiquitous but have fallen out
of favor in the last several years. The company has been trying to shift to
software and services, and has seen some success, with revenue from that
division more than doubling in the second quarter to $156 million.
Thank you for reading, God bless you!
ConversionConversion EmoticonEmoticon