News by Andrew Kameka on Friday August 09, 2013.
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The company formerly known as RIM is contemplating going backwards to go from a publicly traded company to a private one that doesn't need to constantly get battered for its lackluster performance. Reuters cites multiple sources who say that BlackBerry CEO Thorsten Heins and the company's board of directors may try to take the company private in order to remove itself from the scrutiny that comes from analysts and investors that have doubts about the company's ability to rebound from its declining performance in recent years.
According to Reuters, there is no deal in place to privatize BlackBerry, but the company's leaders are now considering it as a possibility for the first time. BlackBerry has previously bet that its BlackBerry 10 launch would reignite the company but sales of the Q10 and Z10 have failed to achieve those goals. More BB10 devices are slated for release this year, but outsiders do not expect the company to see many gains from those products.
BlackBerry reported an $84 million loss in its most recent quarter and a decline of four million customers. The value of its stock has fallen 19 percent this year, according to Reuters, and it may be difficult to raise the money necessary to take the company private. BlackBerry is worth only $4.8 billion today, down from $84 billion in 2008.source: Reuters
Andrew is based in Miami, Florida.