BlackBerry is a Canadian-based enterprise software and services company, previously known primarily as a smartphone manufacturer with the company name Research in Motion (RIM). After falling from a high point of 20 percent market share in the smartphone market around 2009, it has switched directions and is currently attempting to restructure itself as a cybersecurity company specializing in securing endpoints and user data flow.
A dwindling presence in the mobile phone market
In the early 2010’s, BlackBerry’s sales had fallen dramatically, as it had become more and more clear that competitors Apple and Samsung were dominating the cell phone market. In 2014, BlackBerry had a net loss of over 5.8 billion U.S. dollars. The company had considered several drastic changes including a sale or joint venture, and in 2013 brought in John Chen as its new CEO with the hope that he would bring BlackBerry into a new, more profitable, chapter. BlackBerry stopped producing cell phones in 2016, leasing its name to partners TCL and Optiemus Infracom and changing focus for a new era. In the company’s 2019 fiscal year, it generated revenue of 904 million U.S. dollars.
Cybersecurity and the EoT
BlackBerry Ltd. has moved into the direction of AI driven endpoint protection and threat detection. As there is currently no clear security software powerhouse at play at the market today, BlackBerry is trying to position itself as the leading trusted AI-security company. A big portion of this endeavor is its recent purchase of Cylance, a privately-held AI and cybersecurity company skilled in algorithmic sciences and machine learning. Cylance ended fiscal year 2018 with a 90 percent increase in revenue, totaling in 130 million U.S. dollars. Furthermore, BlackBerry Ltd. has extended its portfolio into the Enterprise of Things, which is IoT for enterprises, providing solutions in industries such as automotive, healthcare, government, and logistics.
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