Local Businesses Can Help BlackBerry Ltd (BBRY) Regain Prestige: John Chen

BlackBerry Ltd (NASDAQ:BBRY)’s Chief Executive Officer, John Chen, has admitted that his company has a damaged reputation and he wants business owners and other influencers to help him repair his firm’s image.

In a report from the Canadian Broadcasting Corporation, the BlackBerry Ltd (NASDAQ:BBRY) top executive is quoted saying in an address to the Greater Kitchener-Waterloo Chamber of Commerce that his firm is suffering from a dented image even though the company is now on more solid ground in terms of financial capacity.

“One of the biggest things that I’m working and struggling with, that everybody here could help with, is our reputation.” Chen is quoted by CBC telling people at the meeting, adding, “Not long ago, the company was in deep, deep trouble. We are now out of trouble in terms of financial, but we haven’t established a growth…until that happens nobody will go willingly buy our products.”

BlackBerry Ltd (NASDAQ:BBRY) reported by the end of March that it had a profit of $28 million on revenue of $660 million for the final quarter in its fiscal year 2014.

“The reason I said everybody could help is, you need to tell people that BlackBerry not only has a strategy, it’s no longer a troubled company. The sooner that message gets out and registers, the sooner we’ll return to growth,” Chen continued in his address.

Chen was put in charge of BlackBerry Ltd (NASDAQ:BBRY) towards the end of 2013. The firm, once a favorite in the mobile handsets space particularly by enterprise clients because of its security technology, now only has an insignificant market share in the global phones market.

By the sentiment from the meeting, however, it appears that the people from the Greater Kitchener-Waterloo Chamber of Commerce are ready to support Chen’s firm. According to CBC which talked to officials of the organization which hosted the event, business leaders in the Waterloo area where BlackBerry is headquartered believe that Chen has turned around the company and that they are willing to help BlackBerry regain its lost luster.

David E. Shaw’s D.E. Shaw & Co., L.P. owned about 5.59 million BlackBerry Ltd (NASDAQ:BBRY) shares by the end of the last quarter of 2014.

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