BlackBerry Confirms that It is Looking for a Buyer

BlackBerry

We all know how blackberry is struggling to keep its business alive. However, when they released BB10, the hopes of the Blackberry fans were riding high. Here is some bad news folks. According to the recent reports from Mashable, the company is looking for a potential buyer. The company has also put up halt on trading on its shares and stated that it has formed special strategical committee that will evaluate various options for the company.

Prem Watsa, chairman and CEO of FairFlex Financial which is holding high number of Blackberry shares has also quoted that he may consider the option of resigning from the post as he firmly believes that the process could possibly bring up conflicts.

The announcement about forming a strategical team to evaluate various options has come up after the launch of BB 10 this year. I personally wasn’t expecting this from BlackBerry. However, the recent pricing of the Blackberry Z10 in India has put me in a situation when I almost thought that company is never looking to do business.

BlackBerry Z10 was initially priced at INR 42,000 and it is now being sold at INR 34000. If there are better options available for the same price in terms of Android and iPhone, people would never go for Blackberry. Although, some fan boys are skeptical about the come back of the company, it seems doubtful to me.

The wrong pricing, fairly pity decisions has definitely left the company to this day.

The price of the Blackberry shares was fluctuating at¬†C$10.57 but it went below the average of June’s price right after the announcement was made public. However, analyst are still hoping for something magical as company has also taken similar steps last year.

Well, the final decision may take some time to come out, let us know what do you think about this on-going news?

  • I heard the scuttlebutt on this one Pawan earlier today, they seem to be in dire straits. We will see if someone scoops them up!

    Ryan

    • Pavan

      Yes Ryan. There were rumors about this and Reuters.com also covered up story on this few days ago.

      Let’s see how this goes now.

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