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Blackberry refuses to be sold in pieces

Nov 26 2013, 4:42am CST | by , in News | Mobile Phones

Blackberry refuses to be sold in pieces
Photo Credit: telegraph

After offering to be sold and looking for potential buyers, the BlackBerry board has recently backed off from offers given by companies like Apple, Microsoft, and Lenovo. According to Reuters, Apple and Microsoft have mostly been interested in buying the patents and the intellectual properties of BlackBerry.

According to sources of Reuters, the reason of the buy-off rejection came as the companies were mainly interested to bid for the various assets of BlackBerry separately though the specifics of the proposals are still unknown.

A BlackBerry statement in connection to the refusal states, "that a break-up did not serve the interest of all stakeholders, which include employees, customers and suppliers in addition to shareholders."

The buyoff proposals came out as BlackBerry, who has faced a confirm loss of nearly $1 million, went for downsizing by cutting 4,500 jobs. The losses came as a result of around 3.7 million units of BlackBerry smartphones in the Q2 of 2013, which was much less than the 6.8 million units sold in Q1 of the same year.

Though there were earlier talks of a $4.7 billion takeover deal from Fairfax Financial this year, but the news of resignation of Thorsten Heins, CEO of BlackBerry, and an emergency $1 billion rescue investment from some loyal investors might have changed the scenario now. Moreover, sources state that fear of scrutiny from the Canadian Government about foreign involvement may also has been a reason behind BlackBerry’s refusal.

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