BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) will apparently launch two new smartphones this year, revealed CEO John Chen while speaking at the Consumer Electronics Show (CES) on Tuesday. Chen said that BlackBerry is in the process of manufacturing a Foxconn-built touch screen smartphone expected to come with a price tag of below $200. Another phone would be a high end device with traditional QWERTY keypad and indigenous build, says a report from CNET.
BlackBerry preparing for a second round
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) looks like is gearing up to give a second round of fight to smartphone makers after its OS10 series of flagships phones failed miserably to capture the attention of the consumers. However, the Canadian company, as of now, would stay back from challenging the likes of the Apple iPhone 5 and Samsung Galaxy S4.
In a rare interview with Harvard Business School that was published online earlier this month, (it has since been taken down) value investor Seth Klarman spoke at length about his investment process, philosophy and the changes value investors have had to overcome during the past decade. Klarman’s hedge fund, the Boston-based Baupost has one of Read More
“We’re not retreating from the consumer business,” Chen said. For emerging markets, the company has decided on Foxconn Technology Co., Ltd. (TPE:2354) to take the lead, said Chen. The CEO, pointing towards Samsung, told that if they deliver the features promised then they are a legitimate threat. He said, “I love a good fight.”
Chen also envisions driving up the enterprise service and mobile device management business built upon the success of BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) Messenger Service, and using its QNX platform more efficiently.
Chen designing a turnaround
Chen was appointed as the interim CEO of the company two months ago, but it seems like he has made up his mind to restructure the company. Chen believes that the whole process would take 18 months, confirming that the company is not searching any new CEO, as of now, which would provide stability to the company. Earlier, Chen made a statement that he would remain with BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) until the company gains financial stability and strategic stability.
Chen, after taking up the role of CEO, showed exit doors to some of the senior executives who were responsible for the plans to turn around the company, but failed to do so. Recently, the Canadian company broke off its professional relationship with Alicia Keys as its chief creative officer as the company is refocusing on big business and government clients.
Also, Chen made a decision to bring in SAP executive John Sims to run the enterprise unit, and on Monday the company hired HTC executive Ron Louks to head the devices business. BlackBerry has a potential competitor and threat in the form of Samsung, and its enterprise device named Knox. Samsung is aggressively marketing its Knox brand just like it did for the Galaxy S range of phones.