BlackBerry expected to make an entry in the automobile industry
A trip to Titanium Transportation, a trucking company, helps clarify why stock of BlackBerry is once more a favorite in Canadian markets, having increased 70% in a time frame 2 months.
Located in a developed area, some 50 Kilometers to the north of Toronto, the trucker is a premature adopter of a new fleet-tracking BlackBerry service dubbed as Radar, which employs $400 boxes to transmit and collect data on movement, physical contents and temperature of 1,300 Titanium truck trailers.
Effective gains attached to Radar should permit Titanium to get utmost utilization of its fleet, giving it the power to cut the number of trailers by 5% and also lower the costs of labor, Marilyn Daniel, Company Executive, told media.
“In our world, time is everything,” she claimed. “Being able to inform a driver where precisely a trailer is as opposite to having a driver look throughout a yard for hours. This has been a specific enhancement.”
Radar is symbolic of John Chen’s, CEO of BlackBerry, policy for developing the Canadian icon by navigating the company past from consumer electronics and back to its foundation of trading products to different industries.
Apart from Radar, BlackBerry is also gambling on different kinds of software for industrial users. It is putting weight on its software by QNX subsidiary by footholding deep within car infotainment consoles to extend into self-driving technique, while supporting its cyber-security services and software to prevent elevated threats from hacking.
BlackBerry’s share showed some growth after it displayed symptoms of progress in quarterly income results at the end of March 2017, followed by the news of almost $1 Billion cash windfall from negotiation with Qualcomm anticipated to finance upcoming investments in development in April 2017. That comes in the form of an anticipated income decline to less than $1 Billion in 2017 for the maiden time since 2004. At its smartphone level, the company had yearly sales of $20 Billion.
Comprising the latest BlackBerry bulls are institutional sponsors such as Oppenheimer Funds, which added 3.3 Million more stakes to its current 4 Million market share, and Nokota Management, which took an original position with almost 4.8 Million stakes in the quarter one, as per the filings of U.S. securities.
Connor, Clark & Lunn Investment Management and Iridian Asset Management are the 2 of biggest shareholders of BlackBerry. Each of them raised their shares by almost a quarter by the end of March 2017.