Chen believes the company has completed two-third of the turnaround process. However, he has been silent on the next course of action regarding the hardware unit, which has been a drag after Apple Inc. AAPL launched its newest iPhone. The company has been struggling to record growth in unit sales of its smartphone despite launching fresh models.
According to a Fortune report, although Chen indicated earlier that he would make a decision on the hardware unit, he skipped the issue at a Toronto event Monday.
Chen was quoted, however, as saying, "We have made investment over a billion-plus, all in software, all in security, and now we need to execute it."
After Chen became its CEO in 2013, BlackBerry changed its tactics to focus on software in the face of steady steep drop in revenue from the hardware unit. Although the software unit has been progressing, the company struggled to meet analysts' estimates in revenue in the last few years.
At time of publication, BlackBerry was up 0.64 percent on the day at $7.87.
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