BlackBerry, which marked an era with its keyboard phones, announced operational changes. Accordingly, the BlackBerry brand will be split into two independent companies focused on cyber security and the Internet of Things (IoT).
BlackBerry split into two companies for cybersecurity and IoT
The company, which has transformed from a smartphone manufacturer into a software company over the years, seems to be more focused on this move. It has announced that it is splitting into two firms focused on cybersecurity and IoT, so that each operation can address its own markets.
The decision, first made earlier this year, was made by BlackBerry’s board of directors and advisors. He stated that the portfolio split could help increase shareholder value and profitability.
HMD Global unveiled the Nokia XR21 Limited Edition model, which will be produced in Europe and only 50 will be released.
As part of the separation, BlackBerry plans to conduct an IPO for its IoT unit in the first half of next year. This division of the company develops critically important security software in key markets such as the automotive industry.
Cybersecurity operations will continue to operate under the BlackBerry name. This division will provide support to businesses, governments and organizations on data leaks. It will also provide data security tools to customers.
BlackBerry CEO John Chen said the split will give both companies “greater operational agility and innovative solutions for their customers”. BlackBerry shares rose by 4 percent after the announcement.
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