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BlackBerry admits it is open to private sale

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BlackBerry Z10
BlackBerry Z10

BlackBerry has released an official press statement admitting it is looking at “strategic alternatives” for the company.

Confirming previous tips that BlackBerry is considering going private to fix problems behind closed doors, the Canadian smartphone manufacturer has confirmed it is looking deeply into the financial future of the company.

These “strategic alternatives” could lead to the sale of the company or joint ventures or partnerships as the future for BlackBerry and its BB10 smartphones.

BlackBerry has set up a Special Committee to explore these alternative options, hoping to increasing BlackBerry 10 adoption for its BlackBerry Q10, BlackBerry Z10 and BlackBerry Q5 as well as upcoming handsets such as the rumoured BlackBerry Z30.

“Given the importance and strength of our technology, and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives”, said Timothy Dattels, Chairman of BlackBerry’s Special Committee of the Board.

“During the past year, management and the Board have been focused on launching the BlackBerry 10 platform and BES 10, establishing a strong financial position, and evaluating the best approach to delivering long term value for customers and shareholders,” added Dattels.

In the most recent financial quarter, BlackBerry lost $84 million (£54 million), with that figure only expect to grow before the next financial report at the end of September.

“We continue to see compelling long-term opportunities for BlackBerry 10, 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 our transition,” commented BlackBerry CEO Thorsten Heins.

BlackBerry’s latest range of BB10 handsets are still struggling to gain any traction in the smartphone market against the tirade of Google’s Android OS and Apple’s iOS devices.

“As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network.”

Next, read our pick of the best mobile phones of 2013.

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