By By Jessie McMullen Nov 10, 2014 in Technology Despite concerns about the subsiding of Blackberry, CEO John Chen and the company have completed the first phase of their two-year turnaround plan. "Once we turn this company to profitability again, I will do everything I can to never lose money ever again," Chen said. "That is definitely something I am very focused on doing." Chen, 59, is no stranger to turning around a company. In the early 2000's Chen took over Blackberry has sold assets, eliminated partnerships to lower manufacturing costs and received cash by selling real estate holdings in Waterloo, Ontario; the hometown of Blackberry. The company has also expanded app offerings to help create profit. Even though the company has not turned steady profits, yet; Chen has bought small companies to help the Blackberry company towards investing in growth. "We're managing the supply chain, we are managing inventories, we are managing cash, and we have expenses now at a number that is very manageable," said Chen. "BlackBerry has survived; now we have to start looking at growth." BlackBerry Passport | FindTheBest The company is hiring again for the first time in quite awhile and the idea of Blackberry collapsing is now out of sight. "John Chen has succeeded in changing the conversation about BlackBerry, and that is probably true both internally as well as externally," said John Jackson, IDC technology analyst. In December, the company will launch a new product, Blackberry Classic. Blackberry Classic is a device similar to the Blackberry Bold, formerly a popular Blackberry product. Since Chen took over Blackberry in November of 2013, the company has focused on profit and is not trying to launch too many new devices.Chen, 59, is no stranger to turning around a company. In the early 2000's Chen took over Sybase , a struggling database firm that he liberated. He sold the firm in 2010 for $5.8 billion.Blackberry has sold assets, eliminated partnerships to lower manufacturing costs and received cash by selling real estate holdings in Waterloo, Ontario; the hometown of Blackberry. The company has also expanded app offerings to help create profit.Even though the company has not turned steady profits, yet; Chen has bought small companies to help the Blackberry company towards investing in growth."We're managing the supply chain, we are managing inventories, we are managing cash, and we have expenses now at a number that is very manageable," said Chen. "BlackBerry has survived; now we have to start looking at growth."The company is hiring again for the first time in quite awhile and the idea of Blackberry collapsing is now out of sight."John Chen has succeeded in changing the conversation about BlackBerry, and that is probably true both internally as well as externally," said John Jackson, IDC technology analyst.In December, the company will launch a new product, Blackberry Classic. Blackberry Classic is a device similar to the Blackberry Bold, formerly a popular Blackberry product. More about Blackberry, Smartphones, blackberry smartphones, John Chen, Technology More news from Blackberry Smartphones blackberry smartphon... John Chen Technology Sybase Waterloo Ontario Hong Kong