After suffering quite a downfall in the smartphone market, Blackberry is now attempting to lead in autonomous vehicles software market and the world of cyber security. Compared to the stock of the rest of the market, Blackberry is nailing it by an increase of 2%. This has made the brand top the forecasts of Wall Street. Both the sales and income of the brand is going really well.
John Chen, the CEO of Blackberry is indeed very impressed with the latest change of events and the revival of the brand in the market. Since the time Blackberry has decided to indulge in the market of connected cars, there has been no stopping at all. Sales have increased up to 23% from this new business. Blackberry has also signed deals with companies such as – Aptiv, Baidu, Ford, Hyundai etc.
In the field of cyber security, the company is doing great as well. Soon it is to buy Cylance at a price of $1.4 billion. Cylance is a business enterprise that uses artificial intelligence in order to prevent the cyber attacks. This will in turn help the business of connected cars where Cylance can be used to keep the cars free from malwares or virus.
However, the company is still not on the previous position that it once had. In spite of the recent increase in sales, stocks have been down almost by 30%. In order to achieve the older position of power, reputation and trust, Chen believes that there needs to be persistence in the growth. The chief reason behind this downfall was that the company started late in the touch screen world and other companies like Samsung, Google took over.
Good news is sales are not decreasing anymore and are quite in a stagnant stage. And of course, there is enough room for growth now.