There were days when BlackBerry Ltd (NASDAQ:BBRY) used to rules the market of corporate handheld devices. It then went ahead and innovated by entering the regular consumer market and the phone became a mix of solid performance and entertainment. However the company kept losing market share and never picked up.
AOL, Inc. (NYSE:AOL)’s Chairman and CEO, Tim Armstrong was on CNBC recently and he discussed his attachment to the BlackBerry Ltd (NASDAQ:BBRY) phones. He feels that the phone opportunity is quite big and everyone uses phones for a lot different things from watching a video to quickly check something on the web.
“The phone opportunity is really big, because consumers are using phones for different things. One is the Samsung Note I have and I have an iPhone also.” Armstrong said about the opportunity in the phone business.
AOL, Inc. (NYSE:AOL) chief said that though he uses other phones for entertainment, the BlackBerry Ltd (NASDAQ:BBRY) is a utility for him and he says how it comes to rescue when a lot of work has to be done while on the move and that is where a utility like a blackberry comes handy. He said that most people don’t understand the value of the phone and he hopes for a turnaround for the company in the handset business.
“I love my Samsung Note, I love my iPhone but the stuff about Blackberry is the future hopefully will be driven by utility” Armstrong stated hoping for a quick recovery for BlackBerry Ltd (NASDAQ:BBRY).
The company has recently launched Passport phone in emerging markets and it’s now targeting the emerging markets to make a comeback in the budget handset market. BlackBerry Ltd (NASDAQ:BBRY)’s CEO is positive about the company’s turnaround. FMHR trader Jon Nararian said that the stock might hit $15 at the end of the second half of the year.