BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) shares rose as much as 6% at the NASDAQ today, a day after the struggling company announced that it would sell a good chunk of its real estate property in Canada. Short covering may have also continued to play a role in today’s increase. Investors seem to be turning rather positive on BlackBerry as new CEO John Chen works hard to orchestrate a turnaround.
Writing on First Post, Devendra Prasad explains why he thinks BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) will indeed become a formidable force in the technology industry again.
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Chen’s doing BlackBerry some good
The writer notes that John Chen has already made some big changes at BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) and that Chen’s past work experience demonstrates that he could be just the right person to turn BlackBerry around. After all, one of the reasons investors have begun to turn more positive on the company is because of Chen’s arrival. He’s been moving swiftly to implement the changes he feels are necessary, and investors are now starting to believe that he will indeed be able to bring the magic he brought to Sybase with him to BlackBerry.
Since Chen took over the helm, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) penned a deal with Foxconn to shift some of the risk over to the supplier and also focus more efforts on the Asia Pacific region where smartphone growth is healthier right now.
BlackBerry shifts to open strategy
He also believes that the decision to focus on open strategies for enterprise mobility management as businesses could start focusing their attention more on BlackBerry Ltd (NASDQA:BBRY) (TSE:BB). The author also thinks the company will become the dominant player in enterprise mobility once again.
He also says the move to make BlackBerry Messenger open to iOS and Android was a smart move as the company has found success on those other platforms, particularly Android. He sees BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) becoming a replacement for a number of competitors in the OTT messenger services category with all the additional features the company is planning.