John Chen gets a vote of confidence from BlackBerry's largest stockholder

John Chen gets a vote of confidence from BlackBerry's largest stockholder
Fairfax Financial is BlackBerry's largest stockholder, which means that Fairfax Chairman and CEO Prem Watsa has a lot of input into what goes on with the Canadian smartphone manufacturer. In fact, Watsa had a lot to do with Chen getting the gig back in November 2013, when he replaced ineffectual Thorsten Heins, In a 24-page letter to Fairfax Financial stockholders sent out earlier this month, Watsa wrote one paragraph about BlackBerry's turnaround. The company is approaching breakeven on a cash flow and earnings basis.

Part of the letter dealt with the licensing agreement that BlackBerry made with manufacturers in Indonesia, China  and India. The best part of the deal as far as BlackBerry is concerned, is that the company receives a royalty on each unit sold. BlackBerry no longer has to worry about things like inventory, marketing, and the supply chain. BlackBerry just needs to deliver software to the appropriate manufacturer.

The glowing letter from Watsa acknowledges the role played by Chen as the turnaround specialist plugged the holes that were causing BlackBerry to bleed red ink, mostly from smartphone manufacturing. Making the transition to software has saved the company. We should learn more about BlackBerry's evolving turnaround on Friday when the company reports its fiscal Q4 earnings. Check in on Friday to read how well BlackBerry did during the three month period.

When Chen was first hired at BlackBerry, he was considered an interim CEO. With things improving at BlackBerry, and Watsa giving him a thumbs up, there seems to be no rush for Chen to exit.


source: CrackBerry

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37 Comments

1. Mxyzptlk unregistered

Is approaching break even? So they haven't been turning a profit? *looks at the price of the BlackBerry KEYone* Yeah, so confident.

3. Bernoulli

Posts: 4362; Member since: Sep 01, 2012

You do realise blackberry didn't make that phone, yet still gets a kickback? Seriously do you have nothing better to do than talk out of your ass about blackberry? Why don't you go praise apple or something?

6. meanestgenius

Posts: 22522; Member since: May 28, 2014

He can't help but post ignorant comments about BlackBerry. He already admitted that the reason why he does it is because he and I have a "little feud" going on. He really thinks that no one will check him on his ignorance.

16. Mxyzptlk unregistered

You're still posting that bs? That was one article. ONE article. You're just mad because I said something about blackberry that you don't like, your usual routine. Get over it and stop being so sensitive. I'm speaking to you, MG since PA can't seem to fix the comments section.

18. meanestgenius

Posts: 22522; Member since: May 28, 2014

Lol, I'm posting it because it's true, and you're seething with anger because I keep reminding you of it. You're the one that said it, not me, so stop acting like crybaby about something that you admitted to doing. You've also made similarly ignorant statements, like when you tried to say that BlackBerry didn't have three licensees. And now you've been having fits like a spoiled brat ever since I've called you out on it. As a matter of fact, you already admitted to bashing BlackBerry on almost every article that they have here because I keep correcting your ignorance. Don't like it? Then get over your trolling ignorance.

26. Mxyzptlk unregistered

It's bs and you know it. Subie pointed it out, but understood what I was saying and didn't make a big fking deal about it. No, you want to take it and wear it like a fking badge or something. You obviously knew what I was getting at, but you want to be stupid. Get over it and stop whining about something so trivial.

29. meanestgenius

Posts: 22522; Member since: May 28, 2014

Lol, it's not BS. You're just trying to change the facts to suit your false narrative again. And you're seething with anger about it, because I keep reminding you and everyone else of your ignorance. It's these facts that prove your ignorance concerning BlackBerry, and therefore shows that you have zero credibility concerning your comments about them. Now stop crying like a baby and get over the fact that as long as you're making ignorant comments here, I'm going to call you out on it, and site past instances as proof.

32. Mxyzptlk unregistered

I don't give a crap what you cite. The fact that only you find fault in that comment, same one Subie understood perfectly, just shows that you are just trolling. You can't move the goalpost just because you have been proven wrong. Fee to become jplightning at any time.

35. meanestgenius

Posts: 22522; Member since: May 28, 2014

Lol, you don't care what I site because I site facts to prove your ignorance. I called you out on your trolling and bashing, and I'm not the only one that saw it and did what I did, so get over it. Subie even called you out on your ignorance, he was just nice about it. I'm not nice. It even says so in my name. *Feel, not *Fee. You can't keep changing the facts to suit your false narrative and expect everyone to actually fall for it. We see right through you, batmite.

17. Mxyzptlk unregistered

That's a technicality, Berlin. Cry me a river of salty tears.

21. Bernoulli

Posts: 4362; Member since: Sep 01, 2012

A technicality that yet you try to portray as a fact yet it's without foundation and untrue, as always. Seriously, no one would pick on you if you just simply used actual facts and spoke with supported evidence, no one likes you for this, you praising apple doesn't help either, but that's your preference for which case I have no saying in, but when you speak nonsense or post 'facts' without sources then yeah we're all going to call you out on your bs.

23. Mxyzptlk unregistered

Show me where I've praised Apple in this article. I don't care if you cry about it or throw a hissy fit. It's still a technicality, so get over it. I'm not bothered by what some anonymous person says about me on a tech blog.

30. Bernoulli

Posts: 4362; Member since: Sep 01, 2012

Not here but that doesn't change the fact that you ride their cock long and hard, that's why I said to just go ahead and do that, or just don't troll and no one will pick on you, if you weren't bothered you wouldn't even bother replying you dimwhit

31. Mxyzptlk unregistered

So you were talking out of your rear end, same spot where you take it in? Explains the butthurt.

10. SleeperOne

Posts: 370; Member since: Feb 25, 2017

You don't have a Blackberry product Mxy, so blow it out your ass. Also stop using a puppet to blow your Pillsbury frosting all over apple articles (Batmite).

15. Mxyzptlk unregistered

You don't know a thing about what I own and don't own. Batmite isn't me you idiot. That's someone trying to parody me and doing a very poor job at it.

20. meanestgenius

Posts: 22522; Member since: May 28, 2014

Well, you certainly don't own any BB10 or BlackBerry Secured Android handsets. You've already admitted that, so he's not wrong. I find it hilarious that even people who have just recently joined PA know that you're batmite. You've done a poor job at disguising yourself with that sock puppet account of yours.

24. Mxyzptlk unregistered

Wasn't talking to you about that. I don't need your $.02. Keep it and buy yourself a clue or two. Besides, same thing applies to you as well. Just like you've done a poor job trying to to disguise yourself from your other alias or from being alpha. For reference btw: http://utbblogs.com/the-tide-turning-americans-want-a-blackberry-passport/ http://www.phonearena.com/news/BlackBerry-Passport-concept-shows-how-the-phone-will-look-in-white_id57865/comments/page/2

27. meanestgenius

Posts: 22522; Member since: May 28, 2014

I don't care who you were talking to. If you can't deal with someone responding to you in a public forum, you shouldn't be on the internet. I've already proven that that's a false information, and have no problem doing it again, JakeLee. For reference, btw:https://imgur.com/gallery/NA275 Any more false information you have for me to debunk, like when I had to put you in your place about BlackBerry having more than one hardware/brand licensee?

34. Mxyzptlk unregistered

And if you can't deal with other people's opinions, then stfu and get off the Internet before you get beat up. Again. And I've proven that it's not, alphageek. That is you in that UTB post, so no need to deny it.

37. meanestgenius

Posts: 22522; Member since: May 28, 2014

I deal with people's ignorance and trolling that they hide behind the word "opinion" by calling them out on it. Lol, and YOU never beat ME up, so quit it with the lies. No you haven't, JakeLee. I've proven that it isn't me, so no need for you to keep trying to change the facts to suit your false narrative.

14. Mxyzptlk unregistered

So much butthurt and salt up above.

19. meanestgenius

Posts: 22522; Member since: May 28, 2014

So much pain on your comment.

25. Mxyzptlk unregistered

Not as much pain as you're having being bumburned.

28. meanestgenius

Posts: 22522; Member since: May 28, 2014

No one is in more pain than you are. That's evident by your constant crying on BlackBerry articles.

33. Mxyzptlk unregistered

Whatever man.

36. meanestgenius

Posts: 22522; Member since: May 28, 2014

Mxy code for "Meanestgenius told the truth about me again".

2. uchihakurtz

Posts: 428; Member since: Nov 12, 2012

Damn, I read John Cena, almost couldn't see the guy in the thumbnail.

11. megathaszrul89

Posts: 203; Member since: Jan 08, 2015

Wait, am I the only one who think this comment is funny? My standards need to be revised!

13. Settings

Posts: 2943; Member since: Jul 02, 2014

Even if it is John Cena, still you cant see him. *insert theme song*

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