Tuesday , 20 November 2018
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BlackBerry announces Android smartphone, Good acquisition

BlackBerry announces Android smartphone, Good acquisition

BlackBerry will be launching Priv, a flagship slider device which will run on Android, later in the calendar year. The device will combine BlackBerry security and Android for Work on the BES12 platform. More details will be forthcoming closer to launch. BlackBerry noted that while Priv will provide a choice of OS to new and existing customers, the company remains committed to the BlackBerry 10 OS, which it will continue to develop and enhance. Version 10.3.3 will be introduced in March.

The company made the announcement after releasing its fiscal second quarter results, and saying it completed its acquisition of AtHoc at the end of September and signed a new agreement to acquire Good Technology for USD 425 million in cash. The company said the deal with Good will strengthen its leadership in Enterprise Mobility Management (EMM) value added services. The transaction is expected to close towards the end of the company’s 2016 fiscal third quarter, subject to customary closing conditions and regulatory approvals.

In the second quarter to 29 August, BlackBerry raised its net profit figure to USD 51 million from a loss the year earlier of 184 million. Revenues however fell to USD 490 million from 916 million the year before, with all regions contributing to the decline. Revenues slid to USD 176 million from 297 million in North America, fell to USD 202 million from 368 million in EMEA, went down to USD 33 million from 111 million in Latin America and weakened to USD 79 million from 140 million in Asia Pacific.

BlackBerry said it recognised hardware revenue on over 800,000 smartphones with an ASP of around USD 240 million while non-GAAP software and services revenue advanced 19 percent from the year before to USD 74 million, driven by a 33 percent growth in software licensing revenue. Adjusted EBITDA went to USD 68 million. Total cash, cash equivalents and short and long term investments amounted to USD 3.35 billion, up by USD 37 million sequentially.

CEO John Chen expressed his confidence in the company’s strategy and continued progress and said the company would continue to invest strategically, organically through new products and services based on the BES platform, and through acquisitions like AtHoc and Good.

 For its fiscal third quarter, BlackBerry expects modest sequential revenue growth and a positive free cash flow. The company is targeting  a “sustainable” non-GAAP profitability for its fiscal fourth quarter.

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