BlackBerry Reducing New Smartphones To One or Two A Year

BlackBerry Reducing New Smartphones To One or Two A Year
user1462590383 / Pixabay

Although BlackBerry is not exiting the handset market, the firm will lower the number of smartphones it releases from four to around one or two a year. Of note, the Canadian firm announced a new round of job cuts last week, signaling its turnaround is still far from over.

Why is BlackBerry lowering handset portfolio?

BlackBerry’s renewed focus on software and security, which started after John Chen took over as the CEO, means a reduced focus on hardware where the company is struggling to up its market share. This along with constant job cuts leaves no other option for the company, but to lower the number of phones it roll out a year.

“We are reducing jobs, but it’s not so much as reducing, we are shifting it. Traditionally, we make four phones a year. We are not going to do that anymore. We are going to at least cut it down to a lot less number, maybe two, maybe one,” Chen told Fox Business last week.

Bonhoeffer Fund July 2022 Performance Update

Screenshot 27Bonhoeffer Fund's performance update for the month ended July 31, 2022. Q2 2022 hedge fund letters, conferences and more The Bonhoeffer Fund returned 3.5% net of fees in July, for a year-to-date return of -15.8%.   Bonhoeffer Fund, LP, is a value-oriented private investment partnership for . . . SORRY! This content is exclusively for