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More speculation BlackBerry is getting out of smartphone business

Last Updated Mar 29, 2016 at 7:03 pm EDT

BlackBerry CEO John Chen shows off the new Passport phone after the company's annual general meeting in Waterloo, Ont., on June 19, 2014. THE CANADIAN PRESS/Dave Chidley

A growing number of analysts have joined the camp suggesting BlackBerry is getting set to exit the smartphone business.

This latest speculation comes just days before the Waterloo-based tech company releases its latest financial report.

Daniel Chen, with TD Securities, says the lack of a new low-cost Android device from BlackBerry at the recent Mobile World Congress could be a sign it’s preparing to leave the hardware business.

Bruce Campbell, from Campbell Lee and Ross Investment Management, says this could actually be a good thing for BlackBerry.

He says if you are going to exit, that means you are going to “sell some pieces” and that would make the balance sheet better and help provide a modest boost to stock prices.

BlackBerry will release its 4th quarter financial results Friday morning.