The BlackBerry You Knew of No Longer Exists

Blackberry CEO John Chen talks with TheStreet about the tech company's ongoing turnaround. While Blackberry is indirectly involved in the smartphone business, it's new claim to fame is with connected cars.

Author:
Brian Sozzi
Publish date:
Oct 16, 2017 7:04 PM EDT

Blackberry undefined has been reborn by CEO John Chen. And the market digs it.

Shares of BlackBerry have skyrocketed about 66% so far this year as turnaround specialist Chen and his hand-picked team have pivoted BlackBerry toward a play on several key trends. One is providing technology for connected and autonomous cars. In fact, the company scored a nice win last week by having the technology behind Canada's first on-road autonomous vehicle (a Lincoln MKZ if you must know). The other is developing a suite of products levered to cyber-security. BlackBerry is providing software and services to banks and to other institutions likely fearful of being hacked.

Chen told TheStreet BlackBerry's transformation is largely complete, and more of a push into the connected life lays ahead.

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