BlackBerry’s Passport to turnaround?

BlackBerry is set to launch an unconventional new smartphone dubbed the Passport, as it embarks on potentially the most critical phase of its long turnaround.

The one-time smartphone industry pioneer recently concluded a three-year long restructuring process and has largely halted the bleed, but it is now up to chief executive John Chen to prove that the company’s new devices and services are capable of generating sustainable new streams of revenue and returning it to profitability.

“BlackBerry is still fighting for survival. They still need to turn around and develop a viable ongoing business model,” said Morningstar analyst Brian Colello.

“Their products are certainly pointing towards that and the new strategy makes sense, but there is still a lot of execution risk at this point in a very competitive market.”

BlackBerry is set to launch the Passport early on Wednesday in Toronto, with simultaneous events also being held in London and Dubai.