BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) revealed plans for setting up a security innovation center in Washington DC. CEO John Chen revealed that the company understands and recognizes the importance of mobile security, and the security center would restate its commitment to work in close collaboration with the government partners to design such products and policy for the public and private sectors.
Not many details provided
Chen did not talk much about the innovation center at the CES, but said that a follow-up will be given in the coming weeks. However, no other details were provided except for the fact that the company would collaborate with important government customers and other partners.
Lee Ainslie's Maverick Capital had a difficult third quarter, although many hedge funds did. The quarter ended with the S&P 500's worst month since the beginning of the COVID pandemic. Q3 2021 hedge fund letters, conferences and more Maverick fund returns Maverick USA was down 11.6% for the third quarter, bringing its year-to-date return to Read More
“We are committed to working with government and industry experts to solve some of the biggest challenges we face in securing mobile communication,” Chen said during his speech in Las Vegas.
Chen added that the innovation center, which will be opened in Washington D.C., would make every possible effort to create a long term partnership, and would also held regular discussions to make the products better.
BlackBerry refocuses on government and businesses
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) was once the most dominating smartphone maker in the world, but tipped from its position in the wake of fierce competition from Apple Inc. (NASDAQ:AAPL)’s iPhone and devices using Google’s Inc Android technology. Lately, the Canadian company has been trying to focus on businesses, governments and other large organizations other than the consumer market.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) has been working in close collaboration with governments of different countries to enhance the security measures and receives various security certifications for its products. In the wake of intense competition, the Waterloo, Ontario-based smartphone pioneer is striving to seal its position by retaining the current customer base.
Recently, BlackBerry entered into collaboration with Mozilla to secure the mobile browser through fuzzing and fault injection. BlackBerry could derive some benefits from its security center in DC, but at present the intensity of such benefits remains unknown.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is struggling to bring back its device business to the path of profit, but the plans and strategies have not paid off well yet. Recently, the company hired ex-Sony Ericsson’s executive Ron Louks as president of devices and emerging solutions. Louks, who will leave OpenNMS Group to join BlackBerry, held an important position in HTC Corp (TPE:2498)’s American unit and at Sony Ericsson, a joint venture that was called off by Sony Corporation (NYSE:SNE) (TYO:6758).