In its efforts to revive a deteriorating handset business,
Canadian handset maker,
) unveiled a phone this week called "Passport." Flaunting a square
shape, which is a welcome detour from the usual rectangular phones,
the device will hit the market in September this year.
The BlackBerry Passport has a 4.5 inch square display with full
HD support. Though the device will offer the conventional screen
space like other 5-inch models, it will allow improved image
viewing owing to a larger screen. Suited for reading e-books and
other documents, this smartphone will display 60 characters in a
single line instead of the traditional 40 characters.
BlackBerry was once a leader in the smartphone industry.
However, over the last few years, the company's handset business
has deteriorated drastically due to stiff competition from
) iPhone and
) Android-based devices. We believe that the uniquely shaped
BlackBerry Passport may reinvigorate the company's smartphone
sales, helping the segment to return to profitability.
Recently, the company reported its first-quarter fiscal 2015
financial numbers wherein both the top and the bottom line
surpassed the Zacks Consensus Estimate. Adjusted net loss per share
of 11 cents was significantly lower than the Zacks Consensus
Estimate of a loss of 27 cents.
Total revenue in the reported quarter stood at $966 million
against $3,071 million in the year-ago quarter. However, the
top-line comfortably outpaced the Zacks Consensus Estimate of $954
Last month, BlackBerry struck a licensing deal with
) to bring the Amazon Appstore to its customers on the BlackBerry
10.3 operating system, scheduled to be launched this fall. This
deal will open roads for BlackBerry 10 device users to access more
than 240,000 Android applications from the Amazon Appstore,
including popular ones like Groupon, Netflix, Minecraft, Pinterest
and Candy Crush Saga.
BlackBerry currently has a Zacks Rank #2 (Buy).
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