BlackBerry has announced that it will move away from the smartphone market and will now focus on software development, according to CNN.
With the shift in products, the company will also cater more to companies and government agencies that require tight online security.
"Everything we're doing is to bring solutions for our enterprise customers," John Sims, one of the chief executives of BlackBerry said.
For starters, BlackBerry aims to launch the BES12 software platform in November of this year. This will enable companies to manage various mobile devices that run on multiple operating systems such as Apple's iOS or Google's Android.
BlackBerry's move comes after the company suffered a $4.4 billion loss in November of last year. The financial effect to the company was so severe that it announced plans to downsize its global workforce by around 40 percent.
According to Sims, who joined BlackBerry in January of this year, turning the company's financial status around relies heavily on finding the right market, Mac Daily News reported.
"It's a little like when you walk down the stairs and you stumble," he explained. "You have to grab the handrail, and we had to figure out what our handrail was."
"One thing that was clear to me when I arrived was that the company was completely device-centric," he added.
With the line of new products from Apple and Samsung, BlackBerry had a hard time finding its footing in the world of mobile devices.
"The task to transform BlackBerry back to where it rightfully belongs in the industry is a significant challenge," Sims said.
The company then realized that in order to succeed, it must turn to its other products. The answer came in the form of the company's reputation in the field of software development.
After the iCloud accounts of celebrities got hacked, many people who use rely on BlackBerry's devices and its operating system took to Twitter to joke about Apple's security problems, according to a previous article on CNN.
"#iCloud gets hacked, it's a funny Twitter hashtag. #BlackBerry gets hacked...oh wait...@BlackBerry DOESN'T get hacked," Twitter user DayneB wrote.
"If you like highly unsecured Apple products then have fun. My #BlackBerry is the most secure mobile network in the world. #iCloud garbage," another user posted.
