Boston, MA 04/11/2014 (wallstreetpr) – BlackBerry Limited (NASDAQ:BBRY) has confirmed it is not planning to exit the handset business anytime soon but would consider the option if the company does not make any profits on the segment. The once giant phone company is considering expanding more into corporate reach, through acquisitions, partnerships and investments.
BlackBerry is still optimistic it will be able to make money out of its handset segment if it is able to make up to 10 million shipments a year
BlackBerry Optimistic on Shipments
In a turnaround of events, the company’s CEO has been quick to rubbish withdrawal claims from the handset business, saying he was misquoted. The CEO on a quick re-joiner wrote on the company’s blog reiterating his commitments on the handset segment that has over the years acted as a foundation for the company.
Record shipments for BlackBerry Limited (NASDAQ:BBRY) came in 2011 when the company shipped 52.3 million devices a record that has since been slashed with the company recording revenues on less than 2 million in the last quarter. Chen has in the recent past proposed that the company might partner up with other companies especially in the regulated industries such as healthcare and legal services. These companies are sure to require highly secure systems of which the BlackBerry can reliably provide.
BlackBerry to focus on Providing Security Solutions
BlackBerry is already in the works of building an engineering team for the service side of its business, aimed at providing high security levels. Security continues to be a biting topic especially with immense surveillance from the government. Chen has already acknowledged management mistakes that were made in the past; that continue to hurt the company. He has reiterated that he has a long-term strategy that should be efficient in complimenting short term goals as well as helping the company stay afloat in terms of customer needs.
BlackBerry Limited (NASDAQ:BBRY) sunk in Thursday trading session by highs of 3.64% closing the day at a low of $7.67.
