How BlackBerry moved from iconic cellphone to cyber security
Blackberry According to comScore, it was at the top of the smartphone market in the US in 2010, with nearly half of smartphone customers in the US using a BlackBerry.
The phones were known for a tactile keyboard and BlackBerry’s advanced cyber security – often a favorite among businesses and governments.
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But after its phone adapted to users, BlackBerry changed course, taking some of the business corners with it.
“After a few years, we realized we’d never be able to scale up — and this is the volume game,” said John Chen, CEO of BlackBerry. “And so we made a significant transition to a software-only company and focused on security and cyber and things like that.”
During this stopped making callsIt didn’t go far beyond the industry.
“Currently, BlackBerry has two main business units, a cyber security business unit and an IoT business unit within the cyber security business unit,” said Charles Eigen, chief technology officer at BlackBerry.
Its cyber security unit focuses on securing things like smartphone applications and mobile banking websites. Its Internet of Things unit focuses on the communication of technology within connected and autonomous cars.
“We now have the bulk of software embedded in most cars,” Chen said.
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 opportunity for the industry itself, it is our expectation that the auto software industry will approximately triple in size from 2020 to 2030,” said Luke Junk, senior analyst at Baird.
However, BlackBerry faces competition in the cyber security industry, and its revenue from cyber security in 2021 was $500 million,
Junk said, “I think the company may peak lower than in the past, but with a more sustainable growth trajectory and potentially a more profitable future, as well, on a margin percentage basis.”
CNBC visited BlackBerry’s Autonomous Vehicle Innovation Center and interviewed Chen to find out what’s next for the company.
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