Boston, MA 08/19/2014 (wallstreetpr) – BlackBerry Ltd (NASDAQ:BBRY)’s shift of focus from the smartphone space after years of loss making continues to gain momentum after the company announced it was creating a new division that will be used to leverage its patents and technology. Headed by veteran technology executive, Sandeep Chennakeshu, the new unit seeks to house and protect the company’s vast 44,000 Patents while also focusing on licensing some of the Patents gained over the years.
BlackBerry Targeting Operational Synergies
The Company’s CEO, John Chen, has already stated that combining all the company’s assets under one unit will essentially result in operational synergies as well as revenue streams that should support the company’s turnaround strategy. The move to house all the assets also comes as Mr. Chen continues to wind-down cost cutting measures that have seen the company makes improvements in the market in terms of margins as well as operational efficiency.
Having taken over last year, Chen has worked to stabilize BlackBerry especially on the handset segment that has received a massive beating from other industries giants like Apple Inc. (NASDAQ:AAPL) and Samsung Electronics. The introduction of BlackBerry-Bold in March has also highlighted that the company is on the right track taking into consideration it is still the best brand in emerging markets such as Indonesia.
BlackBerry Targeting ‘Internet of Things’
BlackBerry Ltd (NASDAQ:BBRY) has also been shifting its focus into software and service business instead of the hardware business that it was predominantly known for in the past. Its QNX software is currently powering its latest phones as well as being used to run car infotainment panels, as well as nuclear reactors and internet routers. BlackBerry Ltd (NASDAQ:BBRY) hopes to play a big role in the growth of the so-called “Internet of Things” that continues to grow at an alarming rate
The combination of the assets under the technology unit according to Mr. Chen is expected to result in other revenue streams that should impact the company’s earnings in the long term.
