The decision is applauded by the markets.

 

BlackBerry has announced that it will stop the development and design of its own smartphones, to focus on software.

As part of its business strategy, the Canadian will outsource all hardware development and has announced the signing of an agreement with an Indonesian partner that will be responsible for manufacturing and distributing the devices in the country .

John Chen, the company’s CEO, has revealed that BlackBerry will focus on the sale of mobile device management software.

The announcement has been made by the presentation of the fiscal results corresponding to the second quarter of its 2017 fiscal year . The firm has reported net losses of $ 372 million and revenue of $ 334 million.

«In the second quarter software revenues have doubled in year-on-year terms and have obtained the largest gross margin in the company’s history,» Chen said.

Markets have enthusiastically welcomed the news to the opening of Wall Street. BlackBerry shares are trading at $ 8.22 , 5% more than their initial opening value.