BlackBerry shares slip after company inks security software deals

| Updated: Jul 20, 2016 17:19 IST

New Delhi, July 20 (ANI): The smartphone pioneer BlackBerry on Tuesday sought to bolster its security credentials with a string of small deals, but analysts said the jury was still out on the success of its turnaround and push into software. The company abdicated the top spot in handsets to Apple and Android-based devices, said it had signed a five-year, multimillion-dollar deal to run emergency notifications for the US Senate and expanded a deal with the US Coast Guard to cover staff in Washington, D.C. Though BlackBerry did not disclose further financial details, Ontario-based company Waterloo said the US Department of Defence, one of its largest customers, gave fresh technical approvals to both its mobile management system and phone software, giving it an advantage as a preferred vendor. BlackBerry shares dropped down 2.1 percent to USD 6.59 in early afternoon Nasdaq trade, and 1.2 percent lower at CUSD 8.61 in Toronto. Vice President for enterprise research at CCS Insight Nick McQuire said, "If you are going to be a security company, you have to be known for that neutrality in the market." BlackBerry CEO John Chen, who earlier this year set a September deadline for handsets to turn a profit, said more software deals are on the way said, "A lot of the things that we laid down the groundwork for a year, year and half ago is all paying off now." BlackBerry also announced a partnership allowing corporate coders to translate apps for use with BlackBerry systems, and a deal for its QNX software to be used in electric locomotives being developed in Turkey. (ANI)