Abandoning Cell Phones, BlackBerry Earns Profits From The Automotive Business: As Of May 2022, The Value Is IDR 108 Billion

JAKARTA - Canadian technology company BlackBerry, which was originally known as a mobile phone manufacturer, has managed to rise from adversity after transitioning to become a provider of automotive technology and cybersecurity services.

BlackBerry, which officially discontinued its mobile phone service in early 2022, actually managed to achieve a revenue increase that exceeded Wall Street estimates, thanks to their business in the cybersecurity and technology features for cars.

BlackBerry's revenue as of May 2022 was US$168 million (Rp2.491 trillion), exceeding the average analyst estimate of US$160.7 million (Rp2.383 trillion). This means that the total profit earned is around Rp. 108 billion.

Reported by Antara from Reuters on Sunday, the increase in BlackBerry's revenue is in line with soaring demand for electric vehicles and connected car technology. BlackBerry is a partner to automotive manufacturers General Motors, Mercedes-Benz and Toyota.

BlackBerry said revenue from the Internet-of-Things (IoT) segment, which includes automotive products, experienced the fastest growth of 19 percent.

Automotive products made by BlackBerry include driver assistance system features, infotainment, and connected car features.

As for cybersecurity, BlackBerry scored a 6 percent increase due to the large number of companies using cloud services during the COVID-19 pandemic.