Showing posts with label blackberry. Show all posts
Showing posts with label blackberry. Show all posts

BlackBerry Ends Its Three-Year Workforce Reduction And Looks To Begin Modest Growth

#GNN - #BlackBerry has closed the book on its three-year extensive workforce reduction process, according to an internal memo to employees obtained by Reuters.
The note from BlackBerry CEO John Chen says that all notifications which were sent out to employees being let go as part of the restructuring have now gone out, and in fact, the company will begin hiring in key areas including product development, sales and customer service, in modest numbers and provided the market doesn’t get unexpectedly worse.

BlackBerry’s employee base has seen drastic cuts over the last three years, with a restructuring that was begun in earnest under former CEO Thorsten Heins. The process continued under Chen as planned, and the resulting BlackBerry is a much leaner organization, having dropped around 60 percent of its headcount from its total workforce size three years go.

The memo also highlighted BlackBerry’s new ability to make strategic acquisitions, like when it purchased Secusmart last week, the German firm that creates high-level encryption that is designed to thwart even government attempts to infiltrate networks and communications.

The memo ended with a call for the company to rally behind its new upcoming hardware launches, which include the BlackBerry Passport and BlackBerry Passport, both of which are scheduled to become available this fall for consumers.

This is a key turning point in BlackBerry’s attempt at a turnaround – watching it pivot to a focus on growth after a protracted period of cost-cutting measures will offer more insight into Chen’s plan to save the company, and what that might entail.

Given the level of attention paid by BlackBerry on the Passport, devices still form an important part of that picture, but its enterprise sales side now has to deal with a joint attack by IBM and Apple. One thing’s certain: even with the major workforce restructuring behind them, BlackBerry still has plenty of challenges left to face.

Via MobileSyrup

BlackBerry Is One Of The Hottest Stocks Of 2014, Seriously

Don’t look now, but BlackBerry, you know, the butt of most cell phone jokes, is mounting an impressive comeback. BlackBerry’s stock (NASDAQ:BBRY) is up 50% on the year and one of the best performers in its sector.

BlackBerry has been written off as dead countless times. The company is often viewed as a relic of a bygone era. Its CEO is a blowhard, not afraid to take spats with the company public. Yet the company is creating value for its shareholders.

In 2014 BlackBerry’s stock is outperforming all its peers. At the beginning of the year, the company’s stock was languishing at $7.44 a share. Yesterday it closed at $11.21. That’s a gain of 50% on the year. The stock is also up in trading today.

Apple is up just 20% on the year. Google? Just 5%.

The Motley Fool recently looked at the company’s financials and caution the company has yet to improve its revenue growth or its profit margin. The company is simply slashing costs and not making waves. So far, investors are liking that approach.

The company is also making some strategic moves. BlackBerry has leveraged its established Messenger app, positioning it as a WhatsApp for the lucrative enterprise market.

The company also released minor updates to its BB10 mobile operating system and turned to niche and developing markets for additional handset sales.  Essentially, by not doing a lot this year, BlackBerry hasn’t done anything wrong. That could change.

The company’s long-term future is still in question. Its mobile market share is still shrinking and Apple and Android makers are increasingly adding features once exclusive to BlackBerry devices. If BlackBerry is to remain the company will need to do more than cut cost and add stickers to BBM.

BlackBerry Shares Sink After Ailing Smartphone Maker Reveals Its New Direction

It looks like BlackBerry’s oft-cited transition period isn’t over just yet. The company confirmed this morning in a statement that the Fairfax takeover isn’t happening and that CEO Thorsten Heins is being dismissed, and BlackBerry shareholders are not taking the news very well.

At time of writing the company’s stock price is hovering at about $6.90, down over 11 percent from its closing position on Friday not exactly a sign of shareholder confidence in the ailing smartphone maker.

Still, that’s small fries compared to what happened before the market even opened. The Globe and Mail broke the story about BlackBerry’s new direction early this morning and it wasn’t long at all before the company’s stock price took a serious drubbing it tanked to the tune of almost 19 percent before trading was halted just before 8:30 AM Eastern so BlackBerry could announce the specifics of the Fairfax deal itself, under which the company will accept $1 billion in investments from a slew of investors.

Even though things are apparently starting to flatten out, that’s not a pretty drop no matter how you slice it today’s was BlackBerry’s lowest open since September 2012 (the Monday after it announced service outage in the EMEA regions, no less) and the dip represents a nearly half billion dollar decline in BlackBerry’s market cap.

Naturally, while shareholders may be wary of the company’s future, BlackBerry chooses to look at its hefty investment as a sign of hope for its forthcoming endeavors.

“Today’s announcement represents a significant vote of confidence in BlackBerry and its future by this group of preeminent, long-term investors,” BlackBerry board chairwoman Barbara Stymiest in a statement. That’s great and all, but there’s little doubting that today’s BlackBerry isn’t surefooted in its mission as it once was.

For a long while there getting BlackBerry 10 (and the devices that ran it) out the door was the guiding star over Waterloo, an initiative spearheaded by soon-to-be-former CEO Heins himself. Of course, as the Globe and Mail pointed out previously, the push was met with consternation from other BlackBerry higher-ups included former co-CEO Mike Lazaridis.

Now with Heins nearly out the door, the search for his replacement begins, as does the search for a new philosophy. Despite its legion of rabid fans, BlackBerry 10 doesn’t seem to have charmed the masses in the way the company has hoped, and I don’t envy the person who ultimately gets tapped to try and fix that.

BlackBerry Takes $1B Investment From Fairfax, Others, Replaces CEO Thorsten Heins

BlackBerry is replacing its CEO and some of its board of directors, according to official PR this morning. The push to replace CEO Thorsten Heins comes as BlackBerry’s purchase deal with investor Fairfax Financial Holdings falls through, according to the release. Fairfax had until today to enter into a definitive agreement with BlackBerry, but reportedly had trouble finding the funds.

BlackBerry has now raised around $1 billion by selling convertible notes to investors, and CEO Heins will leave as part of the agreement, alongside changes to the board.

Heins took over the reins at BlackBerry back in January 2012, and so leaves his tenure after a little under two years in charge.

During that time, BlackBerry has launched BlackBerry 10, and also a number of new handsets including the Q10, Z10 and Z30, but that has done little to turn around the company’s ailing fortunes.

The company has been shopping itself around to potential buyers, including Intel, according to multiple reports, and assurances from Heins that it was considering all options, but this latest change in strategy suggests it couldn’t find a deal that worked for both shareholders and potential acquirers.

The new deal sees Fairfax and other institutional investors putting $1 billion U.S. in convertible debentures. Fairfax itself will acquire a $250,000 stake in those bonds, and the whole deal should come off within the next two weeks.

Thosten Heins will step down when the deal closes, to be replaced by John S. Chen (previously chairman and CEO of Sybase) as interim CEO (and Executive Chairman of the Board), while the company undertakes a search for a new CEO. Fairfax CEO Prem Watsa will be named Lead Director of the Board, and board member David Kerr will depart along with Heins.

Chen arrives from Sybase, an SAP company that offers database management, analytics and data warehousing, as well as mobile app development platforms for enterprise users.

He comes on as an interim CEO only according to the release, but that could provide some indication of where the company is heading with this shift in management and strategy.

BlackBerry’s official PR line around the deal seems to indicate that it’s looking at this as a way to strengthen its business to continue serving customers as before, and the company says this “marks the conclusion” of the strategic review officially launched in August 2013 by its Board of Directors.

Fairfax’s Prem Watsa, then a board member, resigned at the time to avoid “potential conflicts” that could’ve arisen during the process of said review, and considering the role Fairfax has played to this point, that seems to have been a wise move.

An enterprise focus under Chen could be just what BlackBerry needs, but investors don’t seem to be that impressed with the way this has shaken out, as share price is down nearly 20 percent in pre-market trading.

Heins obviously wasn’t the turnaround magician the Canadian company needed, but this shift doesn’t do much to detract from the uncertainty surrounding BlackBerry’s future. (Yoogle) (techcrunch) (GNN)

(Illustration: Bryce Durbin)

10-million downloads of BBM for Android

In just 24 hours BBM has been downloaded over 10 million times by Android and iPhone users, one of the best single-day openings for a mobile app to date. BBM, the premier private social network from BlackBerry, is available for free in the App Store and Google Play for immediate download.

BBM also quickly rose through the rankings on the App Store to be the number one free app in more than 75 countries in the first 24 hours, including the US, Canada, the UK, Indonesia and most of the Middle East. User ratings in both the App Store and Google Play are overwhelmingly positive, earning BBM 60,000 five-star reviews on Google Play from about 87,000 reviews.“This has been an incredible launch for BBM across Android and iPhone devices.

The mobile messaging market is full of opportunity for BBM. We intend to be the leading private social network for everyone who needs the immediate communication and collaboration of instant messaging combined with the privacy, control and reliability delivered through BBM,” said Andrew Bocking, Executive Vice President, BBM at BlackBerry.

BBM users, old and new, are enjoying the following features:

BBM Chat : Enjoy real, immediate conversations with friends on Android, iPhone and BlackBerry smartphones. Not only does BBM let people know their message has been delivered and read, it also shows them when a contact is responding to a message.

More than chat : With BBM, customers can simply and instantly share files such as photos and voice notes. Multi-person chats are a great way to invite contacts to chat together.

Get in the Group : BBM Groups lets users invite up to 30 friends to chat together, as well as share photo albums, calendars and files.

Post Updates and stay in the know : BBM lets people post a personal message, profile picture and a current status, and lets contacts see statuses instantly in Updates.

Your unique PIN : Every BBM user has a unique PIN that maintains privacy, so users are not required to ever give out their phone number or email address to a new or casual contact.