How BlackBerry moved from iconic cellphones to cybersecurity

blackberry once topped the smartphone market in the US. In 2010, nearly half of smartphone subscribers in the US used a BlackBerry, according to Comscore.

These phones are known for their tactile keyboards and BlackBerry’s advanced cybersecurity — often favored by businesses and governments.

But after their phones fell out of favor, BlackBerry changed its course, bringing with it some of the cornerstones of its business.

“After a few years, we realized we would never turn up the volume — and it was a volume game,” said John Chen, CEO of BlackBerry. “And so we made that pivotal transition to a software-only company with a focus on security, cyber and the like.”

Meanwhile stop making phonesit hasn’t gone far from the industry.

“Currently, BlackBerry has two main business units, the cybersecurity business unit and the IoT business unit within the cybersecurity business unit,” said Charles Eagen, BlackBerry’s chief technology officer.

Its cybersecurity unit focuses on securing things like smartphone apps and mobile banking websites. Its internet of things unit focuses on communicating technology in connected and self-driving cars.

“We now have most of the software embedded in most cars,” said Chen.

BlackBerry’s technology is in about 215 million cars, and this side of BlackBerry continues to grow, according to the company.

“If we look at the industry opportunity, then we expect that the automotive software industry will triple between 2020 and 2030,” said Luke Junk, senior analyst at Baird.

However, BlackBerry faces competition in the cybersecurity industry, and in 2021 its cybersecurity revenue is 500 million USD.

“I think the company could hit a lower top than we’ve seen in the past but a more sustainable growth trajectory and a more profitable future and on a share basis.” hundred profits,” Junk said.

CNBC visited BlackBerry’s Autonomous Vehicle Innovation Center and interviewed Chen to find out what’s next for the company.

Watch the video to learn more.


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