BlackBerry Ltd (BBRY) to Double Software Revenue in 2015 on New Subscription Model

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BlackBerry Ltd (NASDAQ:BBRY)’s success story from a point of near collapse continues with CEO, John Chen, stating that the company is all but set to double its software revenue to $500 million in 2015. The turnaround plan is finally bearing fruits seen by positive sentiments that the company continues to receive both on the hardware and software front.

BlackBerry Pursuing Partnerships

Revelations that Chen held talks with Xiaomi and Lenovo to discuss possible partnerships is another good news that should go well with investors who have stuck with the company all along. Chen has already confirmed that BlackBerry Ltd (NASDAQ:BBRY) is pursuing partnerships that could allow the company to distribute products in mainland China.

The doubling of Software revenue in 2015 is a clear indication that BlackBerry might finally be gaining market-share in the fast growing enterprise side of the business. BlackBerry Ltd (NASDAQ:BBRY)’s Enterprise Service is especially gaining traction in the competitive space as it offers some of the best levels of security across platforms of Android and iOS. The CEO has also affirmed that changes are in the pipeline in the wake of the company posting reduced revenue of $56 million in the third quarter down from a high of $64 million year ago.

Change of Business Model

Chen has also pointed that plans are underway to change the way the software business operates from the perpetual license model to a subscription model as one of the ways of accelerating growth in the segment. The subscription model is expected to affect revenue returns on the short-term but with greater improvements in the Long-term.

Chen remains confident on the subscription model attracting up to 10 million users next year as free trials continue on the BES 10 till February 1. BlackBerry Ltd (NASDAQ:BBRY) is also making substantial gains on the hardware front with a line of new smartphones targeting emerging markets.

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Neha Gupta
Neha Gupta has cleared CFA Level 2 from CFA Institute (USA) and completed PGDBA in Finance. She has worked in diverse capacities from financial research to currency trading in a span of 3 years. Neha also covers technology news for Insider Monkey, and has a penchant for smartphone stories.

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