Blackberry to stop making its own phones
Once-dominant smartphone maker Blackberry Ltd. said it will stop developing its phones in-house and shift that work to outside companies so it can focus on software manufacturing.
In a regulatory filing Wednesday, the Canadian company said it plans to “end all internal hardware development†on its Blackberry brand phones and “outsource that function to partners.â€
“This allows us to reduce capital requirements and enhance return on invested capital,†Chief Executive John Chen said in the filing.
Blackberry will focus on developing “state-of-the-art security and device software,†Chen said in a call with investors Wednesday morning.
Wednesday’s move is part of Chen’s efforts to turn around the company, once a highly profitable global leader in smartphone technology that has been displaced by products from Apple, Samsung and others.
The Associated Press was used in compiling this report.
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