BlackBerry CEO says robotics is one of its fastest-growing businesses
BlackBerry CEO John Giamatteo says robotics is one of QNX’s fastest-growing businesses as the company expands its software beyond cars.
BlackBerry's pivot into new areas seems to be bearing fruit, as CEO John Giamatteo highlights robotics as a rapidly growing segment within its QNX business. This is a notable development, given that QNX was initially known for its automotive software. The expansion into robotics suggests that BlackBerry's software expertise is finding applications in adjacent industries.
The growth of QNX's robotics business underscores the increasing importance of software in industrial automation and robotics. As companies invest in automation and robotics to improve efficiency and productivity, providers of specialized software like BlackBerry's QNX are well-positioned to benefit. This diversification also reduces BlackBerry's dependence on its traditional automotive business, potentially making its revenue streams more resilient.
To watch next: BlackBerry's financial performance and the trajectory of its QNX business. Investors will be keen to see if the company can sustain the growth momentum in robotics and other emerging areas, and whether this can offset any potential declines in its legacy businesses. Additionally, the competitive landscape in industrial automation and robotics software will be worth monitoring, as BlackBerry faces established players and potential new entrants in these markets.
Originally reported by cnbc.com. FundNews adds analysis for finance & markets readers.