BlackBerry (BBRY) Considering Android for New Device

Shares of BlackBerry Ltd (BBRY) were trading up +0.01 or +0.11 percent to $9.22 in Friday's premarket after Reuters reported this morning that the company may be ready to equip a new smartphone with Google's (GOOG) Android operating system software. Blackberry stock closed at $9.21 per share, down -0.11 or -1.18 percent in Thursday's regular trading session.

Waterloo, Ontario based BlackBerry Ltd, originally known as Research In Motion Ltd is a Canadian wireless equipment and telecommunications company best known for developing the BlackBerry brand of smartphones and tablets.
The company had been having severe setbacks due in large part to competition from the Apple AAPL iPhone and Samsung SMSN Galaxy smartphones, which have taken a large share of the smartphone market. According to four separate sources familiar with the matter, the company is considering the Android operating system after its new line of smartphones has failed to appeal to the masses.

The sources, which prefer to remain anonymous due to the fact that they have not been authorized by the company to speak on the matter, say that the move to Android is part of a strategy focusing on device management and software. Blackberry 10, the company's latest line of smartphones has lagged behind Apple Inc. and other devices powered by the Android system, leaving Blackberry with less than a one percent market share, after the company at one time dominated the market.

A Blackberry spokesman said that, "We don't comment on rumors and speculation, but we remain committed to the BlackBerry 10 operating system, which provides security and productivity benefits that are unmatched. Nevertheless, two of the sources claim that the company may put out a slider device handset with the Android system by this fall.

In March, Blackberry introduced a new slider phone at the Mobile World Congress in Madrid, dubbed the "Curve , the company said that it would release a total of three new phones in 2015, including a high end handset produced in partnership with automobile manufacturer Porsche. Blackberry's latest operating system has an update allowing its devices to download Android apps from the Amazon (AMZN) app store.

The device featured in Madrid combines a touch screen with a physical keyboard, which can be used according to the user's preference. The company also announced at the Mobile World Congress that it plans to deliver its patented security software, communications and productivity features that can be used on any mobile device whether they run iOS, Windows or Android.

Blackberry is expecting that by adding a physical keyboard and a large touchscreen, the company can carve a niche in the Android dominated touchscreen market. The company hopes that its new smartphone will attract users of the older Blackberry models that want access to the Android's expanded app offerings.

Blackberry stock has been on a roller coaster ride this year, reaching a high of $12.63 per share in January, the stock is still under considerable pressure given the competition from Apple and Samsung products. With this morning's revelations, the company could begin the process of recovering some of the considerable market share it has lost having once dominated the smartphone market.

Other News About BBRY

Ex-BlackBerry CEO admits why its most important device failed

According to former Research in Motion co-CEO Jim Balsillie, Blackberry never had a chance against the Apple iPhone.

BlackBerry to Announce First Quarter Fiscal 2016 Results on Tuesday, June 23rd, 2015

Company will host a conference call and webcast at 8AM on June 23rd.

Other Stocks in the News

Twitter's Dick Costolo to step down as CEO in yet another shake-up

Co-founder Jack Dorsey will replace Costolo on an interim basis.

BMW, Baidu will start testing self-driving cars in China later this year

Companies announced their partnership last year and plan to begin test drives by the end of this year.

Published on Jun 12, 2015
By Jay Hawk
Jay Hawk
Jay Hawk enjoyed a 12-year professional financial markets career incorporating extensive first hand futures and options experience obtained by trading in the stock, commodity and forex markets on U.S. exchanges. Since retiring as a full-time financial market professional, he has been actively trading stock, commodities, forex and options for his own account and managing funds for others, as well as writing financial market commentary and educational articles.

Copyrighted 2016. Content published with author's permission.

Posted in ...