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BlackBerry Ltd (NASDAQ:BBRY), formerly known as Research In Motion, was once the undisputed king of the cell phone market. But that was a full decade ago and now BlackBerry's market share of the smartphone market rounded to one decimal point is 0.0 percent.
As noted by Statista, BlackBerry devices were admired by smartphone users for the secure messaging and email functionality, especially among professional users. But the Canada-based company failed to adapt over the years and a mobile OS update that was supposed to spur growth was a dud.
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To be precise, BlackBerry's phones accounted for 1.65 million of the total global smartphone market of 1.49536 billion phones throughout 2016.
Meanwhile, competitors such as Apple Inc. (NASDAQ:AAPL) took market share away from BlackBerry bit by bit.
BlackBerry As A Software Company
BlackBerry's days as a hardware company are essentially over as the company announced it will outsource manufacturing of its devices and will focus on selling hardware in a few regions where it saw limited success.
The company is now focusing on creating and developing software, but it's unlikely such initiatives will help push the stock anywhere close to its all-time highs of above $200 per share back in 2007.
Here is a chart from Statista that depicts the continuous decline of BlackBerry's market share dating back to 2009.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.