John Chen, the newly appointed executive chairman and chief executive officer of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) expressed his commitment in reclaiming the success of the beleaguered Canadian smartphone manufacturer in a brief message published in the company’s official blog site.
BlackBerry efforts to transform the business
In his letter, Chen emphasized that the management of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is accelerating efforts to transform the business of the company. He said, “This is a time for significant change…I know there has been a lot said about BlackBerry, but let remind you that at BlackBerry, we are not dwelling on the past. We are looking forward towards the future.”
According to him, the management team of the Canadian smartphone manufacturer is directing BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) towards embracing a multi-platform, BYOD world by adopting a new device strategy and new mobility management platform. Chen added that the company is taking advantage on its tremendous assets including its network, BBM and QNX.
Future of BlackBerry
Chen pointed out that there is a lot more work to be done. He said, “I know that it’s going to take time, discipline and tough decisions to reclaim BlackBerry’s success and we are ready for that challenge.” He also expressed excitement about the future of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) and its fans should be excited as well.
Furthermore, Chen said the company remains committed in delivering high quality products and services to the millions of people worldwide who depend on BlackBerry. He informed customers that the company has “significant financial strength for the long-haul.”
The company received $1 billion investment from Prem Watsa’s Fairfax Financial Holdings Ltd (TSE:FFH) and other institutional investors. The insurance holding company agreed to purchase $250 million worth of convertible debentures early this month. The company might obtain an additional $1 billion funding as it tries to negotiate a large tax refund from the Canadian government.
BlackBerry will recover
Chen concluded his letter with a strong conviction that BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) will recover. He said, “I believe in the value of this brand. With the right team and right strategy in place, I am confident that we will rebuild BlackBerry for the benefit of all of our constituencies."