BlackBerry CEO Says Chances of Turnaround 50-50

The CEO of BlackBerry John Chen has said in an interview with Financial Times that the chances of success of the company’s recovery are 50-50. He said during the interview:

“I think when you look at turnaround history in the technology market — although there is not a lot — but not too long ago IBM went through it, and not too long ago Apple went through it. I think this is really about catching the technology market wave. And if we’ve done it correctly, [BlackBerry] could be a dominant player again.”

Blackberry Q10

John Chen has a history of turning companies around and he did this with Sybase and then sold it to SAP.

John Chen has been building his team and only recently announced partnership with Foxconn for production of a sub-$200 BlackBerry Z3 smartphone. He also said that a second device will also be produced by both the companies in partnership.

BlackBerry is in trouble for quite long now after the introduction of first iPhone and then the countless models of Android based smartphones. BlackBerry suffered a total loss of $4.4 billion during last year.

Chen hopes to turn the company into a profitable venture by March 2016.

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