This is clearly not good news for those who were hoping for a comeback of troubled smartphone maker BlackBerry. For starters, trading of its stock has been halted. That usually means that there’s big news coming. And that big news is that it has decided to seek “strategic alternatives” which means BlackBerry has put itself up for sale:
“During the past year, management and the Board have been focused on launching the BlackBerry 10 platform and BES 10, establishing a strong financial position, and evaluating the best approach to delivering long-term value for customers and shareholders,” said Timothy Dattels, the chairman of the special committee.
“Given the importance and strength of our technology, and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives.”
So it appears that the company will be sold in whole or in pieces. Thus this looks like the beginning of the end for BlackBerry. I will update this as the story develops.
UPDATE: Here’s the official press release.
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This entry was posted on August 12, 2013 at 8:30 am and is filed under Commentary with tags BlackBerry. You can follow any responses to this entry through the RSS 2.0 feed.
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BREAKING: BlackBerry Is Seeking “Strategic Alternatives” [UPDATED]
This is clearly not good news for those who were hoping for a comeback of troubled smartphone maker BlackBerry. For starters, trading of its stock has been halted. That usually means that there’s big news coming. And that big news is that it has decided to seek “strategic alternatives” which means BlackBerry has put itself up for sale:
“During the past year, management and the Board have been focused on launching the BlackBerry 10 platform and BES 10, establishing a strong financial position, and evaluating the best approach to delivering long-term value for customers and shareholders,” said Timothy Dattels, the chairman of the special committee.
“Given the importance and strength of our technology, and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives.”
So it appears that the company will be sold in whole or in pieces. Thus this looks like the beginning of the end for BlackBerry. I will update this as the story develops.
UPDATE: Here’s the official press release.
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This entry was posted on August 12, 2013 at 8:30 am and is filed under Commentary with tags BlackBerry. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.