Unfortunately another great smartphone company has fallen. Although rumours about closing the hardware division were circling weeks before, the company's earnings call has confirmed those rumours. BlackBerry will end all internal hardware development and outsource it to partners.

Instead of putting a lot of effort into the hardware development, the company will put more focus on software development, including security and applications. Its second-quarter earnings report have also revealed that around 44% of the company's $334 million quarterly revenue came from software and service sales.

BlackBerry is no longer just about the smartphone, but the smart in the phone. Working with trusted partners to extend the reach and availability of our secure mobility software remains a key focus for the Mobility Solutions unit and this joint venture is just one of our next steps in making our software licensing strategy successful.

We remain on track to deliver 30 percent revenue growth in software and services for the full fiscal year. We are revising upward our non-GAAP EPS outlook to a range of breakeven to a five cent loss, compared to the current consensus of a 15 cent loss. This reflects increased confidence based on improving margins and reduced interest expense from the recent refinancing of our debt, as well as planned investments in growth areas.