BlackBerry CEO believes that the company requires assistance to survive.
The chief executive officer of BlackBerry Ltd, John Chen believes that the company now needs help in order to change its image as a company that has been stumbling since a long time. It has been 18 months since Mr. Chen has taken charge of the company and their finances have been fairly stable during this tenure, the only problem they have been facing is the troubled image of the company.
"One of the biggest things that I'm working and struggling with, that everybody here could help with, is our reputation," stated Chen while addressing a crowd of 400 individuals at Kitchener. He further added that "Not long ago, the company was in deep trouble. We are now out of trouble in terms of financial, but we haven't established a growth…until that happens nobody will go willingly buy our products."
The company posted their earnings report for the first quarter of fiscal year of 2015 by the end of March where they were themselves baffled by making a profit of $28 million. However, they experienced a massive drop in terms of sales of their products. Their revenues actually dropped by 33 per cent where the total revenues for the company compounded to $660 million. Previously for the same quarter the company had succeeded in banging $976 million.
John Chen is known as a turnaround specialist and was bought in 2013 in November to serve BlackBerry and bring it out of its problems. However right after he took a seat, BlackBerry (BBRY) stocks declined even further and the loss compounded to $1 billion.
Tuesday, Chen addressed the masses and urged them to promote the brand as much as it can be. According to him, BlackBerry has embraced massive blows over the past five years for which he now requires assistance and support.
"The reason I said everybody could help is, you need to tell people that BlackBerry not only has a strategy, it's no longer a troubled company. The sooner that message gets out and registers, the sooner we'll return to growth," added Chen.
However, the audience Chen addressed does not really require mush pushing since they belong to the top two universities in Waterloo and have the image of the intellectual elites of the society.
According to Mr. McCarter Grespan Baynon Weir Lawyers, he had an idea about how the company had been struggling since the past five years but Mr. John Chen was the only ray of hope that could help the company come out of its tyranny.
BlackBerry has the potential to emerge out successful all it requires is some motivation from the consumers end.
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