Chen and other executives
and board members gave limited information about the company's current
financial performance, as it is releasing first quarter results on June 23. —
Reuters
BlackBerry Ltd's top
priority for this year is making its devices business profitable, its chief
executive said on Wednesday, even as it weighs the future of its hardware
operation.
"The device business must be
profitable, because we don't want to run a business that drags onto the bottom
line," Chief Executive John
Chen told investors at the
company's annual meeting. "We've got to get there this year."
BlackBerry, once the Smartphone
market leader before being displaced by Apple Inc and competitors run on Alphabet
Inc's Android platform, has been working to
reposition itself as a software and service provider with a focus on device
management for large organizations.
Chen took up the CEO role in late
2013 with a reputation as a turnaround artist. But the company's stock has only
gained modestly since then, with many investors waiting for signs the
now-smaller company will be able to carve out opportunities.
The chief executive reiterated
that BlackBerry wants to grow its software revenue by about 30 percent in the
current fiscal year, which he estimates would be double what the market is
growing at.
The company is also still aiming
to have positive free cash flow this fiscal year, he said.
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