manusath-derana

BlackBerry Ltd CEO John Chen clarifies handset comments, no plan to abandon business ‘any time soon’

April, 10, 2014

NEW YORK — BlackBerry Ltd would consider exiting its handset business if it remains unprofitable, its chief executive officer said on Wednesday, as the technology company looks to expand its corporate reach with investments, acquisitions and partnerships.

“If I cannot make money on handsets, I will not be in the handset business,” John Chen said in an interview, adding that the time frame for such a decision was short. He would not be more specific, but said it should be possible to make money off shipments of as few as 10 million a year.

But Chen backed away from his comments Thursday saying they were taken out of context.

“I want to assure you that I have no intention of selling off or abandoning this business any time soon.‎ I know you still love your BlackBerry devices. I love them too and I know they created the foundation of this company. Our focus today is on finding a way to make this business profitable,” he wrote on BlackBerry’s blog.
At its peak, BlackBerry shipped 52.3 million devices in fiscal 2011, while it recorded revenue on less than 2 million last quarter.

Financial Post