What Happened to BlackBerry?
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If we look back a decade ago, to the early 2010s, we would be able to see many adults and youths alike using the iconic BlackBerry, which was one of the top smartphones on the market at that time. Since then, the name has fallen to obscurity, a technological relic. Where did the BlackBerry Company disappear to?
Actually, BlackBerry hasn’t disappeared. In fact, it is still an active company, though it is no longer manufacturing smartphones. After failing to adapt to the constant growth and changes in the smartphone market, falling behind brands such as google, android and apple, the company decided on a different course of action.
“After a few years, we realized that we would never get the volume up — and it’s a volume game,” said John Chen, CEO of BlackBerry. “And so, we made that pivotal shift to a software-only company and focus on security and cyber and things of that sort.”
The shift was into cyber security, a sector which has seen rapid growth in recent years and will most likely not stop anytime soon, with cyber realms becoming a bigger and more influential part of our daily lives. The company has even developed security and communication software for connected and autonomous cars.
According to a report by CNBC, Luke Junk, a senior analyst at Baird, a multinational investment bank, said that “If we look at the industry opportunity itself, it’s our expectation that the auto software industry is going to roughly triple in size from 2020 through 2030.” Despite the move towards a seemingly more fruitful direction, the company is likely to hit a new low soon, according to Junk, but a more sustainable and potentially more profitable growth trajectory may allow the company to flourish.
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