John Chen On Blackberry's Revenue Miss

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BlackBerry Ltd BBRY yet again posted a dismal quarterly result on Friday, declaring revenue 34% below than what it did in the same period a year earlier.

 

John Chen, BlackBerry CEO, was on CNBC to discuss about the company’s revenue miss and transition.

 

“On the FY16, I am talking about, which is the next fiscal year, we still have a couple of quarters for transition to go through, but yes I am a lot more bullish about our new products that came out. It’s very well received, we just launched our classic phones seems to be doing extremely well only a couple of days of course and then our software is doing extremely well,” Chen said.

 

In the Confrence call following the declaration of the results, Chen mentioned that the pre-orders for Blackberry’s newly launched phone, Classic were more than what Passport received and the company’s inventory of old devices in the channel is down 93%.

 

When asked how these smartphone fit n the scheme of things for Blackberry when the company has already decided that it wants to focus on the software and enterprise solutions business, Chen said, “I think we are able to kind of separate the two our BES12 are very focussed on the cross platform. On the call I named a number of winds, that was very high profile that had moved to the BES12 and both in on-premise and holistic solution, more importantly we are getting a pretty good […] business coming and we are doing it on a subscription basis not on a perpetual basis. That’s why the revenue is going to be a little later, it will come more steadily.

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Posted In: CNBCMedia
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