BlackBerry considers selling itself to revive ailing fortunes
The company said yesterday that its board had formed a special committee to explore "strategic alternatives" in hopes of enhancing the company's value and boosting adoption of its BlackBerry 10 platform.
BlackBerry will consider selling itself after the long-awaited debut of its new phones failed to turn around the struggling smartphone maker.
The company said yesterday that its board had formed a special committee to explore "strategic alternatives" in hopes of enhancing the company's value and boosting adoption of its BlackBerry 10 platform.
The company said its options could also include joint ventures, partnerships or other moves.
The Canadian company's stock jumped 5.2 per cent to US$10.26 in midday trading yesterday.
The BlackBerry, pioneered in 1999, had been the dominant smartphone for on-the-go business people and other consumers before Apple unveiled the iPhone in 2007 and showed that phones can handle much more than e-mail and phone calls. The company has since been hammered by competition from the iPhone as well as Android-based rivals. In January, the company unveiled new phones running a revamped operating system called BlackBerry 10 designed to better compete. But its market share continues to lag, and the company warned in June of future losses.