Ahead of earnings release Wednesday, BlackBerry Ltd (NASDAQ: BBRY) CEO John Chen heaped praise on the company for the turnaround process
witnessed in the last few years.
Chen believes the company has completed two-third of the turnaround process. However, he has been silent on the next course of
action regarding the hardware unit, which has been a drag after Apple Inc. (NASDAQ: AAPL) launched its newest iPhone. The company has been struggling to record growth
in unit sales of its smartphone despite launching fresh models.
According to a Fortune report, although Chen indicated
earlier that he would make a decision on the hardware unit, he skipped the issue at a Toronto event Monday.
Related Link: Apple's Smartphone Market Share Shows iPhone Sales Have Room To
Run
Chen was quoted, however, as saying, "We have made investment over a billion-plus, all in software, all in security, and now we
need to execute it."
After Chen became its CEO in 2013, BlackBerry changed its tactics to focus on software in the face of steady steep drop in
revenue from the hardware unit. Although the software unit has been progressing, the company struggled to meet analysts' estimates
in revenue in the last few years.
At time of publication, BlackBerry was up 0.64 percent on the day at $7.87.
Full ratings
data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win
a $20 Amazon gift card!
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.