For those thinking about investing in technology, you might want to brush up on what has been happening in the technology sector of the market as of late. Just recently, Toyota Motor (NYSE:$TM) has decided to no longer use BlackBerry (NASDAQ:$BBRY) technology for its consoles in their Camry sedans, and that, as one would assume, has caused BlackBerry stocks to fall. On Tuesday, following Toyota’s announcement that is shifting away from the company’s technology, BlackBerry shares dropped 0.2%.
No longer using BlackBerry technology, Toyota plans to start using Automotive Grade Linux open source software in the Entune 3.0 consoles for their 2018 Camry sedan. Essentially, the 2018 Camry sedan is going to act as a test run, and if this open source software works out, Toyota plans to extend this technology to most of its Toyota and Lexus vehicles in the United States.
Investors around the world are seeing how this will affect BlackBerry, but the company itself has downplayed the transition. Marty Beard, the Chief Operating Officer of Blackberry, has stated that “none of these challenger platforms is close to displacing BlackBerry QNX in safety-critical modules, areas that are growing faster than infotainment in the modern software-defined car.”
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