BlackBerry explores possible sale

In the face of fierce competition, has BlackBerry finally bitten the bullet?

Struggling smartphone maker BlackBerry has declared the establishment of a special committee to explore the firm's possible future.

In an announcement, BlackBerry said the special committee could lead to the establishment of joint ventures, new alliances, or even the sale of the company.

Minutes before the announcement was made, the smartphone maker's shares were halted on the New York Nasdaq stock exchange.

Within the statement, BlackBerry said that the new committee is tasked with exploring "strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment."

"These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions." The company said.

While JP Morgan will act as financial advisor, the committee will include members of senior management, including CEO Thorsten Heins and chairman Barbara Stymiest.

Rumors have circulated for some time that the company was considering going private. Now, BlackBerry has to decided whether to go it alone against mobile device heavyweights including Apple and Samsung, or whether to seek financial backing to try and claw back some of the firm's lost marketshare.

Via: ZDNet

Image credit: RIM

This post was originally published on Smartplanet.com

Newsletters

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All