John Chen says BlackBerry's transformation is complete, company is "out of danger"

John Chen says BlackBerry's transformation is complete, company is
Consider the state that BlackBerry was in when John Chen replaced Thorsten Heins as CEO in 2013. BlackBerry 10, a gesture based operating system built by the company's QNX division, and the new handsets designed to run it, both failed to generate the sales necessary to lift the company's moribund market share. And BlackBerry's largest shareholder pulled out of a deal to buy the manufacturer for $9 a share. Chen had a new vision for the company, one that saw it focused on software and the IoT.

The new direction that Chen decided to steer BlackBerry in still leaves room for new 'Berry branded handsets. The only difference is that BlackBerry licenses its software and name, and now allows other manufacturers like China's TCL to handle the design, manufacturing and promotion of the new phones. For the second quarter, BlackBerry took in $56 million in licensing fees, up nearly fourfold from the $15 million in such fees it booked the year before.

BlackBerry is using its well known strength in security to get jobs providing secure software for banks and other companies that require protection from cyber-attacks. The company also is supplying the automobile industry with software for infotainment systems and for self-driving cars. And don't forget that BlackBerry offers apps for Android flavored phones in the Google Play Store.

When John Chen took the BlackBerry job on an interim basis back in November 2013, he already had a reputation as a turnaround artist, getting SAP to buy Sybase for $5.8 billion in 2010. At this point, with the stock up 66% this year and the company making money, it would appear that Chen is at it again.

BlackBerry moved its shares today from NASDAQ to the New York Stock Exchange with the new ticker symbol of BB. Chen explained the move by pointing out to financial publication The Street, that BlackBerry's customers are mostly NYSE-listed companies. The executive also said that BlackBery's transformation is complete, and the company is now out of danger.

source: TheStreet 

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31 Comments

1. Dr.Phil

Posts: 2340; Member since: Feb 14, 2011

It's always good to hear when a company that was on the ropes turned itself around. Now if we could get someone like Chen to head up HTC we could start to see a resurgence of once great companies.

2. jacky899

Posts: 430; Member since: May 16, 2017

This guy is amazing. Who would have thought blackberry would be able to survive when the whole world started adopting full touchscreens. Wonder what he would be able to do if he took the helm at HTC or Microsoft phone division.

3. darkkjedii

Posts: 30964; Member since: Feb 05, 2011

Congrats BB, now just keep the strong offerings coming.

4. meanestgenius

Posts: 21769; Member since: May 28, 2014

Kudos to John Chen for getting BlackBerry back on track, and no doubt, much to the chagrin of those that counted BlackBerry out. He truly implemeted ideas that got BlackBerry performing well. Congrats, John Chen and BlackBerry.

6. darkkjedii

Posts: 30964; Member since: Feb 05, 2011

Wait till you know who sees this article

9. Crispin_Gatieza

Posts: 3123; Member since: Jan 23, 2014

He won't be around for a while. The emergency trip to his proctologist is running a little later than expected. No amount of Desitin can help that butthurt.

13. meanestgenius

Posts: 21769; Member since: May 28, 2014

Ikr? He will not be happy.

29. PhoneCritic

Posts: 1354; Member since: Oct 05, 2011

Must agree a good job by him and I must say I was wrong counting BB out and really seeing Chen as not saving much. Again real good job by him and as many have said HTC needs to hire him.

30. meanestgenius

Posts: 21769; Member since: May 28, 2014

Nothing wrong with admitting that you made the wrong initial decision. Takes integrity to do so. There are those here that still refuse to believe it, and will never admit that they were wrong, even though the evidence is right in front of them.

5. vandroid

Posts: 405; Member since: Sep 04, 2012

Send Chen to HTC

7. AustinPaul

Posts: 152; Member since: Dec 13, 2011

Very impressive.

8. BobbyDigital

Posts: 2124; Member since: May 29, 2014

Good to see BlackBerry make a turnaround. Now I'm just waiting for the lead BB troll to show up and talk smack. Anyone see the lil' fella anywhere?

12. meanestgenius

Posts: 21769; Member since: May 28, 2014

His six accounts have all been banned. Although, I do believe he's back with a seventh account.

24. Podrick

Posts: 1284; Member since: Aug 19, 2015

He's in a big pain right now lol.

10. JohnGrant

Posts: 46; Member since: Feb 12, 2015

BlackBerry is likely in play, someone will now try and take BlackBerry out on the cheap now that they are on solid financial footing. I hope I'm wrong.

11. PhoneInQuestion

Posts: 496; Member since: Aug 20, 2017

Blackberry in the software game is more crucial to us than even Google producing their own hardware right now.

14. Hallyu

Posts: 790; Member since: Jul 21, 2015

You can't rescue a gigantic ship from sinking if it hit iceberg. Mr Chen should abandon that futureless firm and find his new life at exceptional conglomerates like LG or Samsung. If that black berry goes bankrupt you'll be blamed of and loss your reputation.

15. aegislash

Posts: 1475; Member since: Jan 27, 2015

It's about time you do us all a favor and just... stop talking.

17. meanestgenius

Posts: 21769; Member since: May 28, 2014

For real. He's just as bad as the ones he always cries about that troll Samsung articles.

18. aegislash

Posts: 1475; Member since: Jan 27, 2015

Exactly. All trolls are the same, no matter how much they deny it. Whine about people badmouthing something that they enjoy, badmouth something that others enjoy, rinse, repeat.

19. trojan_horse

Posts: 5868; Member since: May 06, 2016

Exactly. That dude is getting as bad as Mxy, he trolls everything which isn't from his he country.

16. meanestgenius

Posts: 21769; Member since: May 28, 2014

Nobody wants or needs your hate of everything that's not Korean here. Take that sort of ignorance elsewhere.

20. Hallyu

Posts: 790; Member since: Jul 21, 2015

Yeah coz speaking the truth is hatred? I'm so proud that my homemade products are exceptional. What you do you can't resist it. There's no way that a few lunatic diehard fanboys of such a minor company can afford to keep it running forever. The world is played by power and supports. You strike you survive, you hesitate you get defeated. There's no sympathy in business. it's as simple as that

21. meanestgenius

Posts: 21769; Member since: May 28, 2014

What truth? Your racist rhetoric that you constantly spew? That’s not “truth”. That’s BS. There is absolutely nothing wrong with being proud of what is done in your homeland. But you don’t have to shoot everything else down that doesn’t have the label “made in Korea” on it. That’s trolling nonsense. There are plenty of Samsung fans here like darkk that don’t bash everything not Samsung like you do. You can actually learn something from Samsung fans like him. And you’re proving that all you know is nonsense if you think any “lunatic fanboys” (which is exactly what you are, a lunatic, racist Samsung fanboy) are what keeps BlackBerry afloat. How about you actually read about what the company has been doing in Software, Security, licensing out their brand and IP, and producing their own Secure Android OS to see how the company has managed to reinvent itself. And that’s not including what going on with BlackBerry QNX. I bet you are even in total denial and disbelief about the fact that your beloved Samsung has gone to BlackBerry to make their smartphones even more secure: https://www.phonearena.com/news/BlackBerry-makes-Samsung-Galaxy-smartphones-even-more-secure-with-new-SecuSUITE-features_id98787 BlackBerry totally reinvented themselves and is leading in certain fields above all others. It’s time you accepted that.

22. aegislash

Posts: 1475; Member since: Jan 27, 2015

I'm 100% sure you just destroyed him by bringing up the fact that BlackBerry is now helping make Samsung devices even more secure. Congrats, man. You put that goon in his place.

23. meanestgenius

Posts: 21769; Member since: May 28, 2014

Lmao! Thanks. Sometimes, it just has to be done.

26. MasterAlchemist

Posts: 56; Member since: Oct 14, 2017

WTH????? Why are you still here? Weren't you leaving unless I get banned? PA, please ban this racist scum.

25. MasterAlchemist

Posts: 56; Member since: Oct 14, 2017

In other words, many Canadian people lost their job. A great job indeed, Mr Chen.

27. Crispin_Gatieza

Posts: 3123; Member since: Jan 23, 2014

Heins and Lazaridis took care of that, not Chen. If not for John Chen's intervention ALL Canadians at BlackBerry would've lost their jobs.

31. PhoneInQuestion

Posts: 496; Member since: Aug 20, 2017

You'll lose another account Mxy...

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