Report: Lenovo in talks to buy BlackBerry
There's a new name being tossed into the mix of who's getting what in the ongoing BlackBerry sell-off -- and this is a big one.
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Lenovo, the world's top PC vendor depending on which market research firm you trust most, is reportedly interested in taking a closer look at the beleaguered Canadian phone maker.
Limited details are available right now, but the Wall Street Journal said on Thursday that the Chinese PC company has signed a non-disclosure agreement to look at the smartphone maker's books.
However, the news (or at least the suspicion) shouldn't come as much of a surprise to anyone following the ongoing (albeit downhill) saga for BlackBerry.
Speculation arose earlier this year that Lenovo was interested in taking over the company formerly known as Research In Motion. Yet nothing concrete occurred beyond those reports.
Despite major marketing blitz for the BlackBerry Z10, a collapse seemed all but inevitable for BlackBerry in the face of Android and iOS (and slowly but surely, Windows Phone) conquering the global mobile market.
The Waterloo, Ontario-based operation put itself on the market in August, which was followed by a preliminary $4.7 billion buyout deal with Fairfax Financial Holdings in September.
Despite the possibility of being sold for parts, BlackBerry issued an open letter to customers and partners earlier this week, reassuring that it's "here to stay," asserting that the company has "substantial cash on hand and a balance sheet that is debt free."
Nevertheless, that $965 million second quarter loss reported in September along with the announcement of 4,500 jobs being cut probably didn't help reassure customers, analysts, and investors alike.