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Blackberry to consider going private

  • Blackberry has confirmed it is considering selling the company. This announcement came after speculation regarding the company looking for new ownership options. 

    Blackberry said it is trying to explore alternatives including joint ventures and strategic alliances. The company has been losing money which is supposed to be the case till September after failing to keep up with its rivals. 

    Going private would help in ease out the pressure of scrutiny from outside shareholders by giving an opportunity to reorganize the business. The company has also announced its two new smartphones in an attempt to compete with the rivals. 

    Blackberry's president Thorsten Hein said the company continues to "see compelling long-term opportunities". He said "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 out transition."

    Tagged as: Blackberry to go private, New smartphones by Blackberry, Blackberry, Business News