TECH - BlackBerry Gains on IoT Growth but Sours on Guidance Cut | Benzinga
BlackBerry Ltd (NYSE: BB) was once the leader in the smartphone segment in the mid-2000s when they were known as Research In Motion. Their BlackBerry smartphones had built-in physical keyboards and a trackball utilizing SMS technology. Its users could be identified by clicking away at the tiny keyboards and small screens throughout the day. They ushered in the early days of the smartphone era.
The Smartphone Revolution Passes By BlackBerry
The advent of Apple Inc. (NASDAQ: AAPL) iPhones and Samsung Electronics Co. Ltd (OTC: SSNLF) Galaxy smartphones eventually took over the market with on-screen keyboards, larger screens and lighter sleek designs with infinite applications. Research in Motion changed its name and identity to BlackBerry, ditched its clunky smartphones and transitioned into a software company focused on enterprise cybersecurity, software licensing and Internet-of-Things (IoT) in the computer and technology sector. Needless to say, the competition has been stiff, especially against giants such as Palo Alto Networks Inc. (NASDAQ: PANW) and Fortinet Inc. (NASDAQ: FTNT).
Transitioning from Hardware to Software
While BlackBerry continued to lose market share among consumers, its QNX operating system was still very respected for its exceptional security features, including encrypted messaging, threat detection and secure emails. It's one of the main reasons the United States Department of Defense (DoD) standardized BlackBerry devices over iPhones as a protocol for its employees. BlackBerry devices were the preferred devices among government agencies to protect sensitive information from espionage and cyber threats.
This ...