BlackBerry Chief Pleads for Patience as Company Undergoes a "Complex Transition"
BlackBerry, or the company formerly known as Research In Motion (RIM), may find itself a Guns 'N Roses fan, and in particular the song Patience. That's what BlackBerry's Chief Executive Officer (CEO) Thorsten Heins is asking from investors as the company continues to come up short of expectations during what's been deemed a "complex transition."
"We are still in the midst of a major, complex transition of the this company, and like most of these transformations, progress can be volatile," Heins said during the company's annual meeting, according to USA Today.
His words must have been somewhat inspiring to investors, who reacted by sending the company's share price up almost 1 percent on Tuesday, closing at $9.64. That's in stark contrast to the way things have been going, with BlackBerry's stock having fallen 19 percent in 2013 before Heins gave his speech.
The challenge for BlackBerry is in trying to reclaim relevance in a mobile market that's now firmly dominated by Android and iOS. Be that as it may, the company is forging ahead with a new name, a new platform (BlackBerry 10), and new devices. New strategies could also be in the cards, such as licensing, though Heins was quick to warn against thinking "just narrowly in terms of licensing," adding that its technology could end up in cars.
"We are still in the midst of a major, complex transition of the this company, and like most of these transformations, progress can be volatile," Heins said during the company's annual meeting, according to USA Today.
His words must have been somewhat inspiring to investors, who reacted by sending the company's share price up almost 1 percent on Tuesday, closing at $9.64. That's in stark contrast to the way things have been going, with BlackBerry's stock having fallen 19 percent in 2013 before Heins gave his speech.
The challenge for BlackBerry is in trying to reclaim relevance in a mobile market that's now firmly dominated by Android and iOS. Be that as it may, the company is forging ahead with a new name, a new platform (BlackBerry 10), and new devices. New strategies could also be in the cards, such as licensing, though Heins was quick to warn against thinking "just narrowly in terms of licensing," adding that its technology could end up in cars.
