There was a time when the name Blackberry was the definition of the smartphone. With its signature black casing and QWERTY alphanumeric keyboard, the BlackBerry series of phones became the preferred devices of businessmen, celebrities, and politicians for its professional design. Then Apple and Android emerged. BlackBerry saw the writing on the wall and gave way, outsourcing its smartphone manufacture and phasing-out its proprietary mobile operating system for Android themselves. The company’s a minor player under the shadow of Apple iOS and the Android collective (of which it is now a part-member).
But recently its stock has suddenly become valuable, especially in the wake of the WannaCry ransomware attacks.
BlackBerry cyber-security
Thanks to BlackBerry deciding to change its direction from mobile competition to the development of software and connecting devices, it has come across as one reliable voice and choice on the matter of cyber-security. With Ransomware electronic assaults by WannaCry, infecting PCs and other computing devices, BlackBerry posted a statement on its corporate blog reminding customers that their latest software products include tools that can detect missing security patches that could allow entry of viruses and malware. As the WannaCry attacks continue, BlackBerry joins the call for vigilance for all online.
Describing the ransomware scare as the tip of the iceberg, Blackberry warned that more cyber-attacks are likely to break out in the future as more users “move towards The Internet of Things.” These online threats not only do billions of dollars in damage to governments and business, and put electronic privacy in jeopardy; they also endanger personal safety in the real world.
BlackBerry CEO John Chen assures that their software security measures are sound, as will be demonstrated with their new baby, the BlackBerry KEYone smartphone, now out. This is good news perhaps for Wall Street firms and government agencies that remained faithful to the brand over the years.
Wall Street renaissance
It’s perhaps because of how effectively BlackBerry has addressed the threat of WannaCry and ransomware in general, that its stocks have begun to surge significantly in 2017.
The past week alone it had shot up 10 percent, adding to a total 50 percent rise in the five months of this year. And this is mostly from sales of BlackBerry software and services, which comprise some 60 percent of the company’s sales. Their software is already in use for car dashboard computers from Ford, GM, Fiat Chrysler, Honda, and Toyota. There’s no wonder then that BlackBerry shares are now above $10 value for the first time in two years.
