The bad news for BlackBerry fans (if there are still any) just keep coming. After confirming the death of the original BlackBerry mobiles in 2022, the company has announced that it will sell the patents of its classic phones along with the patents of its messaging services and wireless networks to the company Catapult IP Innovations Inc for 600 million dollars. So it’s official: BlackBerry is definitely leaving the smartphone market.
Of course, the company stressed that they are not selling the essential patents for the execution of their main operations, so this sale will not affect users who still use any of their mobiles or services . In any case, it seems that BlackBerry will now be fully dedicated to the cybersecurity business.
BlackBerry surrenders with mobiles, what will you do now?
Although with this news it seems that BlackBerry is saying goodbye, the Canadian company is really experiencing a good financial moment and it does not seem that we will stop talking about it in the near future. BlackBerry right now is one of the most important cybersecurity companies in the world . Last year they reported revenue of $184 million, of which 69.5% came from the cybersecurity business and 23.3% from the Internet of Things (IoT) business.
Looking beyond smartphones, BlackBerry has achieved many great things in recent years:
- Its operating system for electric vehicles is used by 24 of the world’s top 25 manufacturers .
- They are leaders in train automation, industrial equipment and medical equipment with their QNX software.
- The International Data Corporation recognized them for being a top company in unified device management and security for their Cylance software.
Only 7.2% of BlackBerry’s revenues come from its mobile licenses, so we fully understand its decision to leave the smartphone sector to continue to strengthen itself in other areas . And it is that, with the sale of their classic patents, they will receive 450 million dollars in cash when the operation is closed and another 150 million in a promissory note.
The terms of exactly how the remaining $150 million will be paid have not been made public , but that is really the least of it for us. Tell us… Will you miss BlackBerry in the mobile market?
Source | Reuters
