By Hugo Miller Jan 20, 2014 10:37 PM GMT +0100 41 Comments Email Print
Photographer: Galit Rodan / Bloomberg
A BlackBerry Q10.
Ltd. BlackBerry (BB) surged The most in a month after the U.S. Department of Defense said the company’s smartphones will account for 98 percent of devices in one of its new networks.
About 80,000 1,800 BlackBerrys and phones and tablets based on Apple Inc. (AAPL) ‘s iOS software and Google Inc. (GOOG)’ s Android operating system will start being hooked up to the Department of Defense’s management system at the end of this month , the Defense Information Systems Agency said in a statement last week.
BlackBerry rose 8.2 percent to C $ 10.80 at 4 pm in Toronto, its biggest gain since Dec. 20. After tumbling 33 percent last year, the stock has Gained 37 percent This Year.
The Waterloo, Ontario-based company has-been losing market share to Apple and Android devices as its devices for years failed to carry the same features and range of consumer-focused applications as the iPhone or Samsung Galaxy range. John Chen, who took over as chief executive officer in November, is reorienting the company Toward its core of business and government users, pledging to make Predominantly models Fitted with traditional BlackBerry’s physical keyboard in the future.
The report shows Samsung Electronics Co. That (SMSN), the biggest maker of Android devices, and Apple are not making inroads into the smartphone military procurement That many expected Because They can not always meet the security specifications the Pentagon wants, Doug Pollitt, a Toronto-based broker at Pollitt & Co., said by phone.
Photographer: Simon Dawson / Bloomberg
The BlackBerry qwerty keyboard, logo and icons are seen on the screen of a BlackBerry … Read More
“It’s a challenging specification and other vendors are having a tough time meeting it,” said Pollitt, Whose brokerage owns shares of BlackBerry. “BlackBerry has Already’ve got it.”
Known as The defense agency DISA, que implements the U.S. military’s information technology policies, will introduce the first phase of a new system on Jan. 31 to make it Easier for personnel to work on unclassified documents from wireless devices. A military app store will be included in the first phase and the program currently supports 16 mobile apps, According to DISA’s statement.
Adam Emery, a Spokesman for BlackBerry, is looking into DISA’s statement and did not have any immediate comment.
Today’s gain follows a 6.6 percent advance on Jan. 17 after Citron Research published a report calling for the stock to climb to $ 15 on the Nasdaq Stock Market. Trading was closed today in New York for Martin Luther King Day.
“BlackBerry has a healthy balance sheet, With ample liquidity to execute its turnaround strategy and make the Necessary investments for growth,” According to the report. That Citron added while it makes more Typically short-selling bets against a stock rather than a long position, I this was not a time to bet against BlackBerry.
“It is suicidal to bet against well-capitalized strong management in the enterprise mobile space,” Citron said.
To contact the reporter on this story: Hugo Miller in Toronto at firstname.lastname@example.org
To contact the editors responsible for this story: David Scanlan at email@example.com, Nick Turner at firstname.lastname@example.org