BlackBerry May be Put up for Sale

BlackBerryA statement issued by Canadian smartphone maker BlackBerry has announced that the company is thinking over to put itself for sale. The company has taken this decision after the consecutive losses faced at the times when stylish and advanced smartphones launched by its rivals are going stronger in the market.

Company's last hope was its new BlackBerry 10, but even it could not help the company to shine again.

The top management has set up a special board committee that will consider the options available for Blackberry such as choosing joint ventures, partnership or selling it off. The management has decided to take the help of JP Morgan Chase & Co. as a financial advisor. After this announcement, the shares of BlackBerry ltd. climbed up at 10%.

"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 Dattels, a TPG Capital Executive. Dattels will be the head for this newly formed board.

Last year also, BlackBerry took services of JPMorgan and RBC Capital in order to take the financial advice on various alternatives available. However, at that time selling the company was not in the picture anywhere. Market analysts have also backed this decision taken by the company.