Skip to main content

The Globe and Mail

BlackBerry shares rise after invitations to potential new launch

BlackBerry Ltd. chairman and CEO John Chen gestures during the BlackBerry Security Summit in New York, July 29, 2014.


Shares of BlackBerry climbed higher for the second consecutive day Wednesday after the tech company announced plans for an event that could officially unveil the Passport, its latest smartphone.

The Waterloo, Ont.-based company's stock closed up 2.5 per cent to $11.70, off its high of $11.92 earlier in the session.

That followed an increase of about 3 per cent in the trading session on Tuesday, when the company posted cryptic details of events slated for Sept. 24 in Toronto, London and Dubai.

Story continues below advertisement

BlackBerry is widely expected to use the invitation-only events to officially unveil the Passport, a new device that meets somewhere between a smartphone and a tablet in size, and is designed to cater to professionals who need larger screens to view documents or technical schematics.

Chief executive John Chen offered a brief peek of the smartphone after the company's annual meeting earlier this summer. He said the Passport would be available in some international markets by the end of September.

BlackBerry shares have proven volatile over the past year, fluctuating between a high of more than $12 and a low of $5.79.

Chen was hired last year to reshape BlackBerry, cut costs and lead an effort to find a better footing in the highly competitive tech sector.

Before he joined BlackBerry, Chen led a turnaround at software company Sybase, which faced its own identity crisis and financial struggles before he helped make it a profitable operation focused on mobile business technology.

BlackBerry is scheduled to report its second-quarter financial results on Sept. 26.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨