BlackBerry's revenue fell from $6.8 billion in fiscal 2014 to $3.3 billion in fiscal 2015, according to its annual report. In November 2013 it dropped a $4.7 billion sale to Fairfax, replaced CEO Thorsten Heins with John Chen and said it would stay in handsets. This page covers the communications record behind the decline and what the company reports today.
What did this page argue in 2014?
The 2014 version of this page argued that BlackBerry had an identity problem. It said the company served enterprise IT, government security buyers and consumer keyboard loyalists with no single story for any of them. That is this site's working view from 2014 and it was not tied to dated figures. Claims about a U.S. Capitol contract and about how AI tools retrieve BlackBerry coverage were removed because no source could be found.
What happened to BlackBerry?
BlackBerry went from a market leader to a company with a sliver of new smartphone shipments, then rebuilt itself around software. The table dates the main events and numbers.
| Date | Event | Source |
|---|---|---|
| Sept. 2013 | BlackBerry agrees in principle to a $9 per share buyout from Fairfax Financial, worth $4.7 billion | NBC News, Nov. 4, 2013 |
| Nov. 4, 2013 | BlackBerry abandons the sale, takes $1 billion in convertible notes and says Heins will leave and Chen will become interim CEO | eWeek, Nov. 4, 2013 |
| Nov. 5, 2013 | Shares close 16 percent lower at a $3.38 billion market value, against a reported peak of $83.6 billion | ETCentric, Nov. 5, 2013 |
| Fiscal 2014 | Revenue of $6.8 billion on about 13.7 million handhelds recognized | BlackBerry annual report (Form 40-F), fiscal 2015 |
| Fiscal 2015 | Revenue of $3.3 billion, down 51 percent, on about 7.0 million handhelds | BlackBerry annual report (Form 40-F), fiscal 2015 |
| Apr. 9, 2026 | Fiscal 2026 revenue of $549.1 million, up 3 percent | BlackBerry results release, Apr. 9, 2026 |
BlackBerry's own annual report puts fiscal 2015 hardware revenue at $1.4 billion, against $3.8 billion in fiscal 2014, a drop of 62.2 percent. ABI Research said BlackBerry's share of new smartphone shipments had fallen below 2 percent, as cited by ETCentric on November 5, 2013.
How did BlackBerry respond?
BlackBerry answered with a financing, a leadership change and a promise to stay in handsets, and it later reorganized around software. Each step is dated and attributed.
- Financing: BlackBerry said Fairfax and other institutions would invest $1 billion through convertible securities and called it an immediate cash injection, per NBC News on November 4, 2013.
- Leadership: Heins, who had been the public face of the BlackBerry 10 launch, was replaced by Chen, the former head of Sybase, according to NBC News and eWeek.
- Message: Chen told Reuters on November 4, 2013 that he intended to stay in the smartphone business and expected the turnaround to take about six quarters, as cited by ETCentric.
- Structure: BlackBerry's fiscal 2026 release reports three segments: QNX, Secure Communications and Licensing.
Analysts doubted the plan at the time. Reuters, as cited by ETCentric, listed a declining subscriber base, falling shipments, clients leaving enterprise servers and lost market share as challenges that remained after the financing.
What were the results for BlackBerry?
BlackBerry's revenue fell by half in one fiscal year, and the business that remains is much smaller and profitable. The figures below come from company filings and releases.
- Fiscal 2026 revenue: $549.1 million, with QNX at $268.0 million, Secure Communications at $258.9 million and Licensing at $22.2 million, according to BlackBerry's fiscal 2026 filing.
- Profit: Adjusted EBITDA was $107.1 million, up 27 percent, per the same filing.
- Backlog: QNX grew its royalty backlog to $950 million, according to BlackBerry's April 9, 2026 release.
- Market view: ETCentric reported on November 5, 2013 that the $3.38 billion market value compared with a peak of $83.6 billion.
What does the BlackBerry case teach?
This site's working view is that the case offers five lessons, presented as analysis and not as established fact.
- Communications cannot close a product gap. Revenue halved in one fiscal year while the company's message was about a turnaround.
- Pair a leadership change with a financing story. The November 2013 announcement changed the narrative in a single day, though the stock fell 16 percent.
- Promise only what the numbers support. Chen said handsets would stay and set a six-quarter timeline, and the later segment structure shows the business moved toward software.
- Let the new business speak in its own metrics. BlackBerry now reports royalty backlog and segment margins and not handset units.
- Watch the old story. A reported market-value peak of $83.6 billion made every later headline a comparison.
Where does this case sit?
This case belongs to the crisis case library as a brand and strategy case. Browse the crisis communications case library and the crisis communications foundation guide. A companion 2013 post covers a related question, how BlackBerry's PR agency consolidation fit the same problem. For the wider topic, see reputation management and the crisis communication plan guide.
Frequently asked questions about BlackBerry
Why did BlackBerry replace its CEO in 2013?
BlackBerry abandoned a $4.7 billion sale and moved to replace Heins on November 4, 2013, while its share price and market share were falling, according to NBC News.
How far did BlackBerry revenue fall?
Revenue fell from $6.8 billion in fiscal 2014 to $3.3 billion in fiscal 2015, according to BlackBerry's annual report.
What does BlackBerry do now?
BlackBerry reports three segments, QNX, Secure Communications and Licensing, and had $549.1 million of revenue in fiscal 2026.
Who is John Chen?
Chen is the former head of Sybase who was named BlackBerry's interim CEO and chair on November 4, 2013, according to eWeek.
Originally published December 29, 2014. Updated October 2026. Drafted with AI assistance. Not verified against primary documents: the November 2013 market value and ABI share figures (taken from a secondary outlet), the fiscal 2014 and 2015 figures (taken from excerpts of the annual report), and whether BlackBerry later exited handsets. The original claims about a U.S. Capitol contract, a $266 billion research figure and AI retrieval patterns were removed because they could not be sourced.