BlackBerry might be leaving the handset business

It would be an understatement to say that BlackBerry has been having a tough time of things lately, as the company made a net loss of $423 million last quarter alone. But new CEO John Chen is committed to turning the company around, even if that means abandoning smartphones entirely. As part of an interview on Wednesday Chen claimed that “if I cannot make money on handsets, I will not be in the handset business” according to Reuters. He also claimed that one way or another he’d have to make the decision soon.

BlackBerry Ltd would consider exiting its handset business if it remains unprofitable, its chief executive officer said on Wednesday, as the technology company looks to expand its corporate reach with investments, acquisitions and partnerships. “If I cannot make money on handsets, I will not be in the handset business,” John Chen said in an interview, adding that the time frame for such a decision was short. He would not be more specific, but said it should be possible to make money off shipments of as few as 10 million a year. At its peak, BlackBerry shipped 52.3 million devices in fiscal 2011, while it recorded revenue on less than 2 million last quarter. Chen, who took the helm of the struggling company in November, said BlackBerry was also looking to invest in or team up with other companies in regulated industries such as healthcare, and financial and legal services, all of which require highly secure communications.