John Chen, who has been tapped to make a last ditch try to turnaround the foundering smartphone maker, told Reuters that it would take six quarters to reverse BlackBerry’s current misfortunes. He added the company has “enough ingredients to build a long-term sustainable business,” around its once-popular handsets.
More that a decade ago, Chen took the reins at Sybase, a software maker then deeply in the red. Chen turned the company around and in 2010, SAP (SAP) bought the business for $5.8 billion.
On Monday, BlackBerry announced that a $4.7 billion takeover bid from Fairfax Holding had been ended. It also said that CEO Thorsten Heins had resigned.
The company’s recent problems have rattled enough customers that it recent took out newspaper ads to reassure them.
Shares of BlackBerry rose modestly in pre-market trading on Tuesday.