The company says that one of the "alternatives" could be a sale or joint venture. August 12, 2013 5:14 AM PDT (Credit: CNET) BlackBerry is paving the way for a major change, the company announced today. BlackBerry said on Monday that it has formed a "Special Committee" to explore "strategic alternatives" for its company. The company specifically said that it's trying to "enhance value and increase scale in order to accelerate BlackBerry 10 deployment." However, BlackBerry noted in the next breath those alternatives could range from joint ventures to a sale of its operation to another firm. That BlackBerry has formed a Special Committee isn't necessarily surprising. The company had attempted to improve its chances of success in the mobile market earlier this year with the launch of BlackBerry 10, but that platform has failed to take off. And despite a somewhat strong fiscal quarter ended June 1 that saw the company generate over $3 billion in revenue, it still lost $84 million. Meanwhile, investors have bolted. Since the beginning of this year, BlackBerry shares are down 18 percent and at a current price of $9.76, are way off from their 52-week high of $18.32. More to come...
The company says that one of the "alternatives" could be a sale or joint venture.
(Credit: CNET)
BlackBerry is paving the way for a major change, the company announced today.
BlackBerry said on Monday that it has formed a "Special Committee" to explore "strategic alternatives" for its company. The company specifically said that it's trying to "enhance value and increase scale in order to accelerate BlackBerry 10 deployment." However, BlackBerry noted in the next breath those alternatives could range from joint ventures to a sale of its operation to another firm.
That BlackBerry has formed a Special Committee isn't necessarily surprising. The company had attempted to improve its chances of success in the mobile market earlier this year with the launch of BlackBerry 10, but that platform has failed to take off. And despite a somewhat strong fiscal quarter ended June 1 that saw the company generate over $3 billion in revenue, it still lost $84 million.
Meanwhile, investors have bolted. Since the beginning of this year, BlackBerry shares are down 18 percent and at a current price of $9.76, are way off from their 52-week high of $18.32.
More to come...
