BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) announced during MWC 2014 that a new device called BlackBerry Classic was in the works. Not much information was available at that time as far as the looks, specs and availability of this new model of BlackBerry, except for the fact that like the old BlackBerry devices, the new one is also expected to come with an integrated trackpad. However, some hint on the launch of the device might be available now.
BlackBerry’s CEO John Chen has revealed, in a recent interview with USA Today, that it is very possible Classic will be released in November, although no date has been formally announced.
Chris Hohn the founder and manager of TCI Fund Management was the star speaker at this year's London Value Investor Conference, which took place on May 19th. The investor has earned himself a reputation for being one of the world's most successful hedge fund managers over the past few decades. TCI, which stands for The Read More
BlackBerry Classic, productive and secure
In an interview, Chen told that BlackBerry Classic will include a keyboard and a good touch-screen. Users will be able to browse faster on the device, which will come with multimedia capability. Also, the model will be “very productive and very secure.”
“So, all the familiar things that people love, with some new technology updated. That will come out in November along with the server that helps companies manage devices,” told Chen.
At the time of announcing the device, BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s CEO said that this new model is an ‘enhanced version’ that will come with a touch pad as well as a 3.5 inch touchscreen. Some function keys of the older versions will also be there such as Menu, Back, Send and End buttons that will be placed above the screen. They have even worked on providing a better battery life than with other BlackBerry handsets. It’ll run BlackBerry 10.
Two specific milestones
Chen also revealed that the company has two “very specific milestones.” One is to become cash-flow positive from operations by the end of this fiscal year, and the second one is to be profitable within the next fiscal year.
Explaining the reasons behind the unprofitable BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) handset business, Chen said “the entire industry does not carry very high margin,” and added that volume matters lot. So, when volume is down it becomes difficult to make money from the business. The CEO also accepted “the way we designed some of our products in the past,” as a reason for the struggle.
At 11.37 a.m., BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) shares were down 0.07% at $7.14 on the Nasdaq.