BlackBerry could very well be considered the granddaddy of smartphone technology. The company was creating smart devices nearly a decade before smartphones became common. At one point of time, the company was the biggest name when it came to ‘business phones’, and were considered as ‘premium’ as the iPhones today are. However, from that pedestal, the company witnessed a major fall from grace and today stand at just 0.2% of total smartphone markets. While many expected them to shut down or sell out, the company has held their own. They are soon expected to bounce back into the markets.
The company is soon expected to reach as much as $10.50 per share, as per Steven Li, analyst at Raymond James. While the smartphone market might not be working out as well as BlackBerry would like it to, the software business has been booming for them. With a nearly 30% profit margin, the future does not seem as dark for the company anymore as it once was.
BlackBerry CEO John Chen has himself commented on the matter, saying that they will be considering the software side of things if the hardware business does not go so well in the future. A number of acquisitions were made in the past two years, and the company is now looking at an even better future in software business. The company made a wise decision to introduce Android smartphones instead of continuing BB OS devices. This has helped them stay afloat in the markets, and are now attempting to bounce back.
The company has recently announced the DTEK50, and the hardware division looks slowed down, but survives. The software division of BlackBerry received another major boost when the company signed a deal with the US Senate for the next 5 years. The US Coast Guard too, has signed up for the same. With their software business booming, it looks like their fortunes might soon turn around as the company aims to get back into the markets it once dominated.