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BlackBerry (BBRY) Signs Phone Manufacture Deal with TCL
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BlackBerry Ltd. recently announced that it has entered into an agreement with Chinese handset manufacturer, TLC Communication Technology Holdings Ltd. (“TCL”), to make Blackberry handsets.
Notably, TCL is the fourth-largest manufacturer of phones in North America. Earlier, Blackberry has announced that it would stop hardware manufacture, outsource production and focus on software. The company also launched the Android-based DETK60 handset this November, which was manufactured by TCL. BlackBerry’s deal extension with the market leading company phone manufacturer displays its dedication to ensure availability of its branded devices in most countries across the world. Notably, this is the first licensing agreement that the company has entered into since its declaration of shifting to software business.
The deal allows TCL to produce and sell Blackberry phones in all countries except India, Sri Lanka, Bangladesh, Nepal and Indonesia. These countries form some of the key markets for BlackBerry. The company also manufactures Alcatel-branded handsets. TCL will be responsible for design, manufacture, sales and customer support. BlackBerry will license its security software and service suite as well as related branded assets to TCL.
Notably, Blackberry has also entered into an agreement with Indonesia's BB Merah Putih company for manufacture and sale of its handsets in the country.
Changing Focus at Blackberry
Blackberry has been undergoing a transformation from a leading mobile handset brand to dominant software and licensing firm. The company's change in focus has primarily been influenced by increasing competition from popular operating platforms of peers such as Apple Inc. (AAPL - Free Report) iOS, Microsoft Corporation (MSFT - Free Report) Windows and Alphabet Inc.'s (GOOGL - Free Report) Android. The shift in the company's focus is expected to generate better returns in the future.
BlackBerry’s stock has outperformed the broader Telecommunications Services industry over the past six months. The company has inched up 10.42% compared with the industry which has declined 0.42% over the period.
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BlackBerry (BBRY) Signs Phone Manufacture Deal with TCL
BlackBerry Ltd. recently announced that it has entered into an agreement with Chinese handset manufacturer, TLC Communication Technology Holdings Ltd. (“TCL”), to make Blackberry handsets.
Notably, TCL is the fourth-largest manufacturer of phones in North America. Earlier, Blackberry has announced that it would stop hardware manufacture, outsource production and focus on software. The company also launched the Android-based DETK60 handset this November, which was manufactured by TCL. BlackBerry’s deal extension with the market leading company phone manufacturer displays its dedication to ensure availability of its branded devices in most countries across the world. Notably, this is the first licensing agreement that the company has entered into since its declaration of shifting to software business.
The deal allows TCL to produce and sell Blackberry phones in all countries except India, Sri Lanka, Bangladesh, Nepal and Indonesia. These countries form some of the key markets for BlackBerry. The company also manufactures Alcatel-branded handsets. TCL will be responsible for design, manufacture, sales and customer support. BlackBerry will license its security software and service suite as well as related branded assets to TCL.
Notably, Blackberry has also entered into an agreement with Indonesia's BB Merah Putih company for manufacture and sale of its handsets in the country.
Changing Focus at Blackberry
Blackberry has been undergoing a transformation from a leading mobile handset brand to dominant software and licensing firm. The company's change in focus has primarily been influenced by increasing competition from popular operating platforms of peers such as Apple Inc. (AAPL - Free Report) iOS, Microsoft Corporation (MSFT - Free Report) Windows and Alphabet Inc.'s (GOOGL - Free Report) Android. The shift in the company's focus is expected to generate better returns in the future.
BlackBerry’s stock has outperformed the broader Telecommunications Services industry over the past six months. The company has inched up 10.42% compared with the industry which has declined 0.42% over the period.
Zacks Rank
BlackBerry carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>