- BlackBerry Chief Executive John Chen said Monday he is two-thirds of the way toward achieving his goal of turning the company around by shifting its focus to software that helps businesses manage their mobile devices, according to a Reuters report.
- "We have made investment over a billion-plus, all in software, all in security, and now we need to execute it," Chen said.
- Chen made the announcement at an event in Toronto, just ahead of the company's second-quarter earnings report, set for Wednesday.
The once-prominent smartphone maker has worked to shift its business strategy as demand for its phones plummeted in recent years. The company has also made a number of cybersecurity focused software and services acquisitions over the last year.
With its broad customer base, BlackBerry is working to reemerge as a key provide in the security space, particularly when it comes to mobile.
In July, BlackBerry announced two new security-related contracts with the federal government, giving the struggling company more government certifications and approvals than any other mobile vendor. Then last week, BlackBerry announced it will partner with Zimperium Inc. to provide anti-hacking software for iOS and Android devices.
Though there have been numerous announcements, only time will tell if the company's turnaround works, allowing it to stay competitive in the market.