The wireless communication company's CEO, John Chen announced he is looking to take the company out of the handset business if the device will not bring the company revenue.
"If I cannot make money on handsets, I will not be in the handset business," Chen told Bloomberg.
When handsets were in greater demand BlackBerry shipped 52.3 million devices in fiscal 2011, while recording less than $2 million in revenue last quarter.
"I don't have a plan to get rid of handsets, I have a plan to not be dependent on handsets," Chen said. "All I need to do is replace the handset revenue, and this company will be very different."
TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."