It seems that investor confidence in BlackBerry Ltd. (TSX:BB)(NASDAQ:BBRY) is gaining momentum. Short sellers are becoming more bullish, while reviews of the company’s latest Android device, the Priv, have been remarkable. Android Central called the device “one heck of an Android phone.”

But will the euphoria last? If the latest rumours are correct, BlackBerry is developing another Android phone that could keep both investor and consumer interest spiking.

A second phone could round out BlackBerry’s revival

Reports show that even with positive reviews of its latest Android phone, the company is getting ready to release another named the Vienna. The phone reportedly “ditches the Priv’s slider in favour of the iconic BlackBerry layout, with a front-facing physical keyboard that is always present.”

Early renders show what looks to be a sleek, modern take on the company’s highest selling phone ever, the BlackBerry Curve. That phone was incredibly popular with corporate clients and has been associated with Wall Street bankers. However, when BlackBerry’s native operating system fell behind Alphabet Inc.’s Android platform and Apple Inc.’s iOS software, consumers rapidly ditched the company’s phones as they lacked what customers wanted most: a vast library of apps.

Now, with less than 1% of the global smartphone market (down from 20% in 2010), BlackBerry appears to be crawling back.

Regaining its core market

The switch to Android solves nearly all of customer’s complaints. The operating system will be more stable and can now offer Android’s full suite of apps. Notably, both new phones should still adhere to BlackBerry’s longstanding reputation of layered security. The Priv may cater more towards everyday consumers, while the Vienna may finally regain the corporate market.

If a phone doesn’t have mass scale, it doesn’t make sense to use in the corporate world. By using BlackBerry’s old phones, companies risk getting unsupported apps, being incompatible with customers, and looking generally outdated. “We track the percentages of all the four big operating systems,” says U.S. Bancorp’s senior vice president for mobile banking and payments. “We’re still not seeing the kind of growth we need to in BlackBerry.”

While the Priv is more stylish, the Vienna could bring back the simplistic, yet functional design the corporate world loved. This time, by using Android software, it can get around the inherent obstacles of its previous failures.

Should you buy the stock?

It doesn’t look like there’s much downside to an investment today. Currently, the company’s tangible book value per share is $8.84, yet shares only trade for $9.63. If the firm can hit its estimated target of selling five million units, the company could turn a profit of over $1 billion. Should that happen, the stock would have over 100% upside at only 10 times earnings. With such a massive comeback, however, don’t be surprised to see the market give it an even greater premium than that.

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Fool contributor Ryan Vanzo has no position in any stocks mentioned. David Gardner owns shares of Alphabet (A shares), Alphabet (C shares), and Apple. Tom Gardner owns shares of Alphabet (A shares) and Alphabet (C shares). The Motley Fool owns shares of Alphabet (A shares), Alphabet (C shares), and Apple.