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BlackBerry confirms that it is now considering selling the company

News by Andrew Kameka on Monday August 12, 2013.

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Days after rumors first emerged that BlackBerry may consider taking the company private or even consider a sale, the Canadian mobile device and services company issued a statement that its board members are considering those options and more as they try to fix BlackBerry's fading market position. BlackBerry has formed a committee tasked with finding new ways to improve BlackBerry 10 adoption, including joint ventures and strategic partnerships with other firms, or selling the company.

BlackBerry stresses that there is no guarantee that the committee's actions will lead to any transactions; the goal is merely to explore if there are viable alternatives to remaining an independent, publicly-traded company. BlackBerry is in a weak position having seen its market share and stock value plummet in recent years, so attracting new business may prove difficult. The launch of BlackBerry 10 provided some short-term positivity, but sales have not been popular enough to prove that BB10 will satisfy BlackBerry investors and analysts. CEO Thorsten Heins remains upbeat about BlackBerry's position and believes there may still be suitors for BlackBerry. Heins issued the following statement about his company's plans:

"We continue to see compelling long-term opportunities for BlackBerry 10, we have exceptional technology that customers are embracing, we have a strong balance sheet and we are pleased with the progress that has been made in our transition. As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network."

source: BlackBerry, via: Business Insider

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Andrew Kameka
Andrew is based in Miami, Florida.

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