Does BlackBerry’s latest press release spell uncertainty from within its own ranks or signs that BB10 isn’t working out? Talk of potential new ‘strategic alternatives’ may raise a few eyebrows regarding the company’s future.
It’s been a tough ride for BlackBerry (previously RIM) these past few years. With its smartphone market share having been eaten away by fast-growing rivals like Apple and Samsung, the company has struggled to find clear ways to maintain its stability, even though more recently, the arrival of BlackBerry 10 has gone some way to combat consumer’s waning interest.
Despite a strong reappearance back into the market following the announcement of BB10 earlier this year, with a new OS and new hardware in tow, a press release found on MarketWire.com earlier today suggests that the company isn’t feeling all that sure of itself and the formation of a new Special Committee which includes the company’s CEO, Thorsten Heins has been assembled to ‘explore strategic alternatives’. Such alternatives are said to include:
‘Possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions.’
This means we could see BlackBerry sticking up a ‘For Sale’ sign in the coming months (if it hasn’t effectively done so already) or partner up with another company looking to ride this turbulent wave out, with the hope of making a new ally.
Despite such bleak speculation however, Prem Watsa, former Chairman and CEO of Fairfax Financial; BlackBerry’s largest shareholder has stated that, “I continue to be a strong supporter of the Company, the Board and Management as they move forward during this process, and Fairfax Financial has no current intention of selling its shares.” In addition BlackBerry has tried to make clear that despite these most recent claims, a transaction still might not occur, but if that’s the case is the company left in a worse than before it spoke out?
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