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  • BlackBerry Forms Special Committee to Help Decide the Future of the Company


    Trading BlackBerry shares came to a halt this morning as the firm created a special committee to explore strategic alternatives, with talk of a possible bid to go private in order to fix its problems while out of the public eye. For those of you who have been unaware, BlackBerry has been thinking of going private in the wake of disappointing sales of its latest flagship products, which most recently resulted in a quarterly loss of $84 million when the company shipped only 2.7 million devices running its latest operating system.

    If the company went private, it would at least remove the burden of having to justify quarterly performances to shareholders for BlackBerry’s executives. The company has been continually cutting staff and closing operations in order to reduce expenditures and chief executive Thorsten Heins along with the rest of the company’s executive staff, have been under heavy scrutiny in light of BlackBerry’s performances.

    The staff reductions seem to be a continuation of a months-long process that has seen BlackBerry cutting operations in order to increase efficiencies and scale the company correctly to its user base. For several years before, Apple’s iPhone and several devices running the Android operating system rose to dominate the smartphone industry. BlackBerry produced dozens of phone models per year but recent months have seen the company scaling back that production to just three new devices running BlackBerry 10 this year.

    The other options that BlackBerry may have include a joint venture or a possible sale to another tech company. Lenovo has previously been mentioned as a candidate to acquire BlackBerry, adding a developed smartphone segment very similarly as it did a computing segment when it bought IBM’s PC division in 2005. In March, Lenovo’s chief executive made several headlines with his honesty in telling a French newspaper that acquiring BlackBerry is a move that just made sense but the company hasn’t made any public overtures since then.

    The Canadian company’s BlackBerry 10 OS is currently in fourth position among the mobile operating systems available, trailing behind Google’s Android, Apple’s iOS and Microsoft’s Windows Phone. It holds this position largely due to the fact that there are virtually no other major operating systems currently in wide release. The past quarter saw Windows Phone clearly capturing its lead over BlackBerry with Nokia shipping more Windows Phone devices than BlackBerry did smartphones in total.

    Either way, we’ll have to wait and see what decision the special committee reaches.

    Source: BlackBerry (MarketWired) via The Verge
    This article was originally published in forum thread: BlackBerry Forms Special Committee to Help Decide the Future of the Company started by Akshay Masand View original post
    Comments 8 Comments
    1. hogcia's Avatar
      hogcia -
      This is what happens when you don't move fast enough.
    1. exNavy's Avatar
      exNavy -
      Quote Originally Posted by hogcia View Post
      This is what happens when you don't move fast enough.
      You hear that Apple? Get of your butt and start innovating already.
    1. kosher1's Avatar
      kosher1 -
      Go BB Go!!!!!!!
    1. peakay's Avatar
      peakay -
      Lets set up a group of guys to get paid to say "Damn we are screwed..."
    1. cndirect's Avatar
      cndirect -
      BB is not popular enough in asia-pacific area.
    1. iH85CH001's Avatar
      iH85CH001 -
      Quote Originally Posted by kosher1 View Post
      Go BB Go!!!!!!!
      Truly i hope they get something amazing out to compete. Then ill go buy that since im done with apple. Im gonna get an iphone 5 with ios 6 and never update unless i am forced to because of a problem. However after that im done with apple because ios 7 is terrible. Awful.
    1. tridley68's Avatar
      tridley68 -
      It,s time to close up shop and save some face
    1. bigboyz's Avatar
      bigboyz -
      Yes, at one time BB was king. Lack of innovation and resting on its laurels have positioned BB where it resides today..last place. I agree, Apple needs to start being innovative again or face this future. No one wants to fall from grace but its inevitable when you are no longer looking for change.