BlackBerry used to be a hardware-focused company a few years ago, but now it is actively making a transition into being a new software-led concern. Cormark analyst Richard Tse believes it is a very difficult process and that the Canadian firm must ditch hardware altogether in order to expedite the process.
BlackBerry to shut hardware segment soon?
Tse, who had a meeting with BlackBerry management late last week, said the company’s turnaround has been a real battle for some time, but now making a shift towards enterprise is more lucrative since the rewards on the stock now outweigh the risks. BlackBerry’s transition away from its hardware roots into enterprise software is a “Herculean” task, he said, and presently, the company is in the midst of it, the analyst believes.