What's a BlackBerry user worth?

The smartphone pioneer now has 72 million subscriber accounts but the value of each one has fallen precipitously. Maybe there was no perceived value in the BlackBerry install base to begin with.

Last week BlackBerry announced that it had 72 million subscriber accounts. The current market capitalisation is $US5.4 billion and enterprise value (i.e. excluding net cash) is about $US2.8 billion.

That implies a net present value of about $US40 for each account. This is quite a drop from early 2010 when the value was $US866.

The graph of BlackBerry subscriber accounts and EV/account is shown below:


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