BlackBerry is continuing its shift toward software and services as the financially struggling company looks to lessen its reliance on hardware.
Following a restructuring program that saw 200 recent layoffs, the Canadian tech company’s marketshare for global smartphone sales is, at best, 0.3%—hardly enough to drive a billion-dollar business forward.
However, software revenue has been steady, and BlackBerry sees opportunities in security and also vehicle “infotainment” systems.
The company’s latest smartphone, the Priv, runs Android, suggesting BB10 could be on the permanent decline. But BlackBerry also owns QNX, which develops software for cars, and that technology has been faring well in markets.
BlackBerry has more than $3 billion in cash, but is otherwise on poor financial footing, struggling to profit from smartphones, which for decades was the company’s bread and butter.
Software represents around 20% of BlackBerry’s business right now and the company hopes to double that figure in the coming years. This will be aided by the growth of the Internet of Things market, in which BlackBerry already has a hand thanks to its QNX technology in 60 million cars.