Ex-innovator of the Smartphone industry- Blackberry has fallen into the hands of takeover aspirants. Once more, the industry has revealed its character – innovate constantly or perish. In the other world, Blackberry may have many friends- including Nokia and Motorola. HTC should tighten its fight for survival.
Blackberry’s achievement as a Smartphone producer was remarkable for one thing- customer loyalty. In the history of the industry, no other firm –even Apple, was able to get intense brand loyalty as Blackberry had. But the pace of the change in the industry was even harder. You can’t close your eyes for a moment without thinking about the next big change to be made. Otherwise, rivals will run past you.
Blackberry remained motionless on the innovation front for a long time since 2008, when other firms have made new OS and applications and fusing new electronic devices into smart phones. The Ontario based phone maker’s too much dependence on messaging and security were not enough to please the customers for a long time when other remarkable product enhancements were made by its rivals.
Blackberry’s share price peaked above $148 in June 2008 when its phone was a preferable product for the technosavy executives and professionals. Now, the shares are trading between $8-9.
Blackberry‘s new savior, Fairfax Financial Holdings may definitely make big changes in the company’s strategy to broaden the market. Fairfax’s Indian origin CEO, Prem Watsa was an insider of the mobile phone maker and he knows where the revival work to be made.
For the Smartphone industry, 2008 feels very past as near to 200O BC. So, for a comeback, the former miracle firm should come with new strategies. There are hardly any remarkable comebacks in the industry so far. But Blackberry should make one to get its going.