BlackBerry CEO John Chen remains optimistic about the company's future despite the financial setbacks it has been experiencing for years.
In an interview with CNBC, Chen is confident that the company is "very close" to being profitable again. BlackBerry is attempting to bounce back in the hardware business by introducing more Android-powered devices that boast improved design and security features.
Back in November 2015, when the company officially released its first Android-powered smartphone with physical QWERTY-equipped keyboard, the BlackBerry Priv, it was largely seen as its last ditch effort to save the struggling brand after consistently incurring losses since 2010.
BlackBerry's market share has been steadily declining as Apple and Google continue to dominate the mobile scene. As more touchscreen devices are being introduced in the market, users started veering away from physical keypads on phones, which hurt BlackBerry's sales tremendously.
When BlackBerry released the Priv Android smartphone back in November 2015, it did not initially meet its sales expectations, but created enough hype for consumers to notice the BlackBerry brand again.
Unfortunately, the Priv only sold 600,000 units, which is far from its pre-launch forecast. This prompted Chen to refocus the company's goal into overhauling its BlackBerry operating system as well as its services, to keep the hardware business afloat.
Tech Times reported in April that BlackBerry will unveil two new Android-powered smartphones, codenamed "Hamburg" and "Rome." Chen himself confirmed that BlackBerry is presently developing Android smartphone models targeting mid-tier mobile phone market.
"I think the key is could I get the business to make money, and I'm very close," Chen said. "I truly believe we're going to be in the phone business, and a profitable one."
BlackBerry published in April its year-end revenue report, which records a loss of $238 million.
"Overall, BlackBerry's Q4 performance was solid," Chen said, attributing the company's progress in the area of software development. Chen also claimed that the company has more than doubled its software and licensing revenue in the fourth quarter and predicts to exceed its $500 million target by the end of 2016.
"Looking to FY 2017, our strategy is on track and our growth engines are in place to continue to generate above market growth in software and achieve our profitability objectives," said Chen.
