Boston, MA 01/23/2014 (wallstreetpr) – It is all clear that BlackBerry Ltd (NASDAQ:BBRY) is headed for prominence again as can be seen in what the company’s fast-moving chief executive John Chen is doing. Mr. Chen recently dropped the world “interim” from his title which simply means that he will be around, perhaps, until the company attains financial stability.
The company gained nearly 9 percent to $10.78 Wednesday. It was a gain which continued into the after hour trading where the stock added another 0.74 percent to its value.
Towards the attainment of the financial stability dream, the company is getting its hands in several things and some are already paying off. First and foremost, it was the best decision for BlackBerry to pursue its turnaround instead of seeking for buyers. That move has not only returned confidence among its shareholders, it has also helped the company to win back it lost market share in some segments.
Customers returning
The company recently received an order to supply about 1,000 mobile devices to one of its long-time customers Datev of Germany. This move though involves a small order than what the company used to transact in an hour during its heydays, signals that its long-lost customers are willing to help it out of the doldrums.
The news on Datev phone order was followed by the biggest announced so far of the month that Pentagon is planning to have 98 percent of its mobile devices run by BlackBerry. This is a big boost to the company not only by the number of devices it will supply and manage, but also positions it to get more similar orders from other governments. Perhaps you should note at this juncture that BlackBerry has plans of creating a next-gen mobile communications security center in Washington from where it hopes to serve its government and enterprise clients seeking top mobile security.
Turnaround journey
It is only fair to say that BlackBerry Ltd (NASDAQ:BBRY)’s turnaround efforts are unfolding nicely. The company recently announced outsourcing of its handset making business which essentially means that it will no longer have to worry about inventory losses. Also, the company is liquidating a portion of its real estate assets in order to raise more money for its turnaround exercise. These efforts will obviously continue uplifting the stock.
