BlackBerry, Cisco Sign Patent Cross-Licensing Deal

Beleaguered smartphone maker BlackBerry just wonEUt give up the fight. The firm sold a meager 1.1 million devices in the last quarter but it's still battling for market share and it's betting on its newfound alliance with Cisco to help.

BlackBerry's total revenue for the first fiscal quarter of 2016 hit $658 million. That breaks down to 40 percent for hardware; 38 percent for services; and 21 percent for software and technology licensing. In response to this news, BlackBerry's stock slid 3 percent in midday trading. Nevertheless, BlackBerry executive chairman and CEO John Chen is putting on his best public face.

EUI am pleased with the strong performance of our software and technology business,EU Chen said. EUThis is key to BlackBerryEUs future growth. Our financials reflect increased investments to sales and customer support for our software business. In addition, we are taking steps to make the handset business profitable. We believe these actions are prudent and necessary to grow the business and we believe the remaining milestones in our strategic plan are achievable.EU

BlackBerry-Cisco Patent Deal

In another effort to drive revenues, BlackBerry just entered into a long-term patent cross-licensing agreement with Cisco. The agreement covers their respective products and technologies. BlackBerry will receive a license fee from Cisco, but specific terms of the deal were not disclosed.

EUWith the agreement in place, BlackBerry and Cisco can focus on innovation and continued technical cooperation, allowing our companies more freedom to create leading products and services for customers without the potential for patent disputes,EU said Mark Kokes, Vice President of Intellectual Property and Licensing, BlackBerry. There was no specific mention of what products and services might stem from this agreement.

Loosing the Grip?

Chen didnEUt get specific about what other mind-blowing steps he would take to turnaround BlackBerryEUs long-ailing handset business. The earnings report did mention joint development...

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