Tech company, Blackberry has quit the manufacturing of phones and now moved to software development.
The company in a statement by its CEO, John Chen, said it would outsource hardware production to its partners.
The decision was due to its low second quarter earnings of $352 million.
“We are focusing on software development, including security and applications. The company plans to end all internal hardware development and will outsource that function to partners. This allows us to reduce capital requirements and enhance return on invested capital”, Chen said.
“We are reaching an inflection point with our strategy, our financial foundation is strong, and our pivot to software is taking hold”, he added.
seriously? So wat will happen to all the phones they have produced. .. Visit confamgist.com.ng for more news and gist