BlackBerry Limited, formerly known as Research In Motion Limited (RIM), is a Canadian-based multinational wireless telecommunications software and mobile hardware company best known to the general public as the developer of the BlackBerry brand of smartphones and tablets, but is transitioning to becoming a worldwide provider of secure and high reliability software for industrial applications and mobile device management (MDM). QNX, a subsidiary of BlackBerry, is widely recognised as a leader in automotive software industry. BlackBerrys software and hardware products are used worldwide by various governments' agencies and by car makers and industrial plants, much of this activity being transparent to the public. The company is headquartered in Waterloo, Ontario, Canada. It was founded by Mike Lazaridis and Douglas Fregin in 1984. Fregin left the company in 2007. In 1992 Lazaridis hired Jim Balsillie, and Lazaridis and Balsillie served as co-CEOs until January 22, 2012. In November 2013, John S. Chen took over as CEO. His strategy is to subcontract manufacturing to Foxconn, and to focus on software technology. The majority of BlackBerrys value lies in its patent portfolio which was valued, in 2013, between US$2 billion and $3 billion. Originally a dominant innovative company in the smartphone market for business and government usage, with 41% U.S. market share in Q1 2010, the companys dominance in the U.S. smartphone market has in recent years declined precipitously, in part because of intense competition from Apples iPhone and various Android devices. Due to such competition, the companys share in the U.S. personal consumer market has reduced to 0.8% by Q1 2016.