BlackBerry Ltd (NASDAQ: BBRY)
BlackBerry hasn’t had the best of times in the market over the past few years. However, I believe that 2016 will be the year this stock soars again. Today, we’ll talk about why BBRY has fallen on such hard times over the past few years as well as what changes they’ve made that are likely to shift the overwhelming opinion of the stock from bearish to bullish.
Why BlackBerry Has Struggled Over The Year
Years ago, BlackBerry was on top of the world! The company can be argued to be the driving force with regard to innovation in the smartphone market. While the company did very well in the beginning, as with any emerging industry heavy competition soon came into play. Today, I couldn’t name half of the companies that are actually making smartphones. However, during this time, consumers decided what they liked best.
It quickly became apparent that while BBRY had some of the best hardware on the market, consumers wanted smartphones with better operating systems. Unfortunately, this was an area where BBRY simply couldn’t seem to keep up. Over a couple of years, Apple started to take the position as the industry leader with their iOS. Further down the road, Google would step in with Android, also taking a large percentage of the market. Between the two, BBRY was squeezed out of the equation. As a result, BlackBerry smartphones now account for less than 1% of the smartphones on the market today.
What BBRY Has Done To Combat The Problem
BlackBerry’s problem was clear, the company simply couldn’t keep up with innovation in the space of smartphone operating systems. However, the good news is that the company knows this. As a result, BBRY recently launched a new smartphone – Priv. This smartphone takes advantage of the strong hardware and security offered by BlackBerry while taking advantage of the incredibly popular Android operating system offered by Google. As a result of this match made in heaven, sales of the Priv were incredibly high. In fact, sales climbed so high that shipments of the phone were delayed.
While many experts, including myself, predicted that BlackBerry was going to come out with more phones along the lines of Priv, it wasn’t until very recently that BBRY came out with their own opinion. In fact, BlackBerry recently confirmed that Android is the company’s future.
What We Can Expect To See From BBRY Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from BlackBerry moving forward. The reality is that while the company has struggled over the past few years, they have pinpointed the primary problem they are facing, and – more importantly – have come up with a viable solution. By taking advantage of the Android operating system, BBRY has the ability to appeal to the masses. Combining the Android operating system with the security and strong hardware that BBRY is already known for, the company has the ability to start to take back it’s share of the smartphone market, which will lead to gains.
What Do You Think?
Where do you think BBRY is headed moving forward? Let us know your opinion in the comments below!
[Image Courtesy of Wikipedia]