Yesterday the Waterloo-based business announced poor quarterly results, but during the conference call to analysts and investors Chen stated some brutal truth — mainly that he hopes the company becomes profitable by 2016, deciding to focus on the enterprise market, plus outsourcing its manufacturing to Chinese-based Foxconn.
In a letter to employees, which surfaced online via N4BB, Chen seems to be completely upfront and honest with their current situation. He also notes that while “earnings numbers this quarter are not good,” BlackBerry’s aim is to “serve customers who value advanced security” with plans to build a “security technology centre” in Washington D.C. later next year.
2014 will once again be a transition year, but with $3.2 billion in cash, BlackBerry is also thinking about making “strategic investments in areas where we think we can grow and profit.” Chen also declared that they are working on recruiting a head of our Devices, plus encouraging employees to “enjoy some time with the people you care about and come back energized and focused in the new year.”
The stock market seemed to embrace Chen’s vision as BlackBerry’s stock climbed over 15% to end the day at $7.22. (mobilesyrup)
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