BlackBerry Will Survive According To CEO

BlackBerry Will Survive According To CEO

BlackBerry CEO John Chen revealed that the company has gone through tough times and it aims to look at its growth. Chen hyped the success of the first phase of the two-year turnaround plan of the company through asset sales and reduction of costs. He also expressed his confidence in the second phase of the plan, which is to turn in a profit.

Chen became the CEO of the company last November. He indicated that he is confident about the survival of the company. He said the company is managing its supply chain, inventory, and cash. He added that expenses have become manageable and the company is aiming for growth.

While the second financial quarter saw a loss for the company, it was lower than what it initially anticipated. Although overall revenue was low, the company was able to turn in a profit from the handset business for the first time in the last five quarters.

The company is looking to break even on its cash flow at the end of the fiscal quarter. It is also anticipating profit in the fiscal 2016. The BES12 is also set to be unveiled by the company. The BES12 is the latest mobile-device management software of the company aimed at enterprise clients while a new smartphone is set to be introduced in the coming month.

The CEO also said orders for the BlackBerry Passport phone is gradually increasing.

Industry analysts reportedly praise the ability of Chen in reviving the company. However, the company has to deal with challenges within the mobile market. Chen revealed that the company is quite comfortable with its sales in the mobile market. The company aims to have at least one innovative device by 2015. It also aims to update the Classic, Passport and Z3 smartphones.

Chen also indicated that once BlackBerry will become profitable again, he will work on preventing it from losing money again.

Posted by James Fried on Thursday November 13 2014, 4:05 AM EST. Ref: CNET. Link. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0