BlackBerry's Making a Huge Mistake
Despite recording a massive $4.4 billion GAAP loss last quarter, shares of BlackBerry have surged more than 20% over the past two weeks as investors remain optimistic regarding interim CEO John Chen's plan to turn around the struggling company.
In addition to honing its focus on its promising enterprise software and messaging businesses, part of that plan involved striking a development agreement with Apple manufacturer Foxconn, the initial focus of which will be to create a low-cost consumer smartphone for developing markets like Indonesia.
But according to the Fool's Steve Symington in the video below, it's a big mistake for BlackBerry to place any energy into bolstering its failing consumer business at this point.
Specifically, Steve says, BlackBerry's missteps in Indonesia have already cost it significant market share as better-funded competitors like Apple and Samsung continue to expand their presence around the globe.
To hear Steve's full take on why BlackBerry would be wise to instead focus entirely on what it does best, please check out the video below.
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The article BlackBerry's Making a Huge Mistake originally appeared on Fool.com.Fool contributor Steve Symington owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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