In May this year, Morgan Stanley and Weinberg Partners, acting as strategic advisors, issued an assessment that BlackBerry's split into two companies, the Internet of Things and Cybersecurity, would be more beneficial to its future development. BlackBerry expects to achieve a net profit of $5 billion in the first half of fiscal year 2024.Splitting the IoT business, and listed it on the stock market.
BlackBerry believes that separating its IoT business will allow the company to focus more on its cybersecurity business and make it easier for investors to evaluate the performance and potential of the company's core business development.
The IoT business will become an independent company after the split and is planned to be listed in the first half of BlackBerry's 2024 fiscal year.
In the past, BlackBerry was impressive for its phone design with a full QWERTY physical keypad and its own security technology. Therefore, it attracted many business people and government agency employees in the early days. However, as the smartphone market flourished, BlackBerry failed to adjust its business development model in time and lost out despite the aggressive expansion of Apple and Google.
Although BlackBerry later planned to seize the smartphone market with a new form, it ultimately had no choice but to split its mobile phone business and focus on network and IoT security. At the same time, it cooperated with automobile groups such as BMW, Bosch, Continental, Honda, Mercedes-Benz, Toyota, Volkswagen, Volvo, and China's Dongfeng and Zhejiang Geely in the automotive industry.
