Badass, just like years ago, a guy opened up a Convenient Store, gas and groceries. He did so well that others open up them also. Now they are on every Connor in every state, all cutting prices and running on very low profits. That is because to many trying to take business from each other. Well same with cell phone's, every ,mall and town has 2, 3 4, 8, 10 cell phone outlets. Each cutting each others throat for the business. It's not unusually for them, 2 or more Convenient Stores or cell phone companies to gang up and take out the big guy. That happened to BB. The old management had no clue or idea of what to do to stop the slide. CHEN does know, get out of the cell phone business. By that I mean still offer them for the upper 1%, but in no way depend on the business to support the company bills. That is what you see here, Chen is heading deep into the security platform, which BB is the best at, and that is where he will make bold moves that take this stock back over $150 pps. He tried to tell investors what his plans where, to not try and compete in the cell phone business, but into the future demands. Share holder freaked out as they can not see the future, only the past and they have no idea that market is dead. All cell phone companies offer free phones, pay of old contracts and much more trying to take the lead. All their doing is losing money for the stock holders while they try and condor the market.
Only problem I see with Chen's plan is that government agencies around the world and here in the us will be buying BB cells because they will be doing business with BB for the security support. For that reason I see BB taking back 50% of the cell phone market.
That's ok as it adds to the companies bottom line, but it is nothing compared to what the security and automotive divisions will do for the company.
