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Dec 20, 2017

‘We’re winning’: BlackBerry CEO John Chen on the company’s turnaround efforts

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BlackBerry (BB.TO) shares traded higher Wednesday after the Waterloo, Ont.-based technology company topped revenue and profit estimates in the third quarter.

CEO John Chen spoke with BNN’s Jon Erlichman to discuss the company’s recent quarter in relation to its turnaround strategy. Chen spoke on everything from cybersecurity, to bitcoin security risks, to the company’s position in the autonomous car market.

Here’s some of what he had to say:

ON THE LATEST QUARTER

“We’ve been always focused on both the bottom line, the expenses, change in the company, a new strategy. Getting validation of that strategy and start growing the software and services. Doing what we do best in cybersecurity. Expanding our footprint in the auto industry as related to autonomous driving and connected cars. So the list goes on. …I think this was a great quarter and  I would love to celebrate it.”

ON CYBERSECURITY

“We embed  [cybersecurity] in everything we build. …This [has been] the DNA of the company for 30 years. …What we have seen in the last year is that when this cybersecurity concern got raised that banks and the regulator industry tends to come to us.  And that’s why we’re winning. We are winning. [We’re] the solution because the technology is embedded with cybersecurity. It’s not an outside thing you put on top like a filter, like a blanket. It’s really the core part of what we do. We got a lot more invites to bid. We got a lot more wins because of the fact that we are more secure than anybody else.”  

ON BITCOIN SECURITY  

“I hope [the exchanges] come to us. But I don’t know too much about the whole exchange behind that. I know the CME has something that they’re working on. I’m not quite sure who the major players are… But it is an opportunity.”

ON THE AUTONOMOUS CAR MARKET

“We started with infotainment systems and in the last couple — two or three years — we’ve branched out to advanced driver assistance, to telematics to virtual cockpits to hypervisors — just a whole host of functionality…My strategy is partnership. I partner with chip manufacturers, I partner with Tier One and I directly work with the car manufactures…I’m a believer in partnerships and we seem to be winning the right deals.”

ON BLACKBERRY’S TURNAROUND STRATEGY

“Our strategy is good. We’re executing to it…there are areas that we could branch into, especially in the IoT security world. …The only thing I promise the shareholders as the custodian of their money. I’m not going to overspend, I’m not going to overpay. I’m going to be patient.”