BLACBERRY Phones Will Be No More – John Chen, Blackberry CEO

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One-time Smartphone giant Blackberry has officially quit making handsets, 14 years after releasing its first product.
A statement released by the company confirmed the development.
The statement said Blackberry’s manufacture of hardware, henceforth, will be outsourced to other companies.
John Chen, Blackberry CEO said the company’s new direction is software development, including apps and security rather than subcontracting to partners.
“We are focusing on software development, including security and applications. The company plans to end all internal hardware development and will outsource that function to partners. This allows us to reduce capital requirements and enhance return on invested capital”, Chen said.
“We are reaching an inflection point with our strategy, our financial foundation is strong, and our pivot to software is taking hold”, he added.
It will be recalled that Blackberry has in recent years recorded poor sales as costumers following the emergence of Android and iPhone devices.

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