BlackBerry Shares Climb 30% on Samsung Bid Rumours

BlackBerry Shares Climb 30% on Samsung Bid RumoursOn Wednesday, some rumours about Samsung approaching BlackBerry for sales deal shot up its shares nearly by 30%.

A report said that Samsung the South Korean firm has approached BlackBerry for buying the company in an offer of nearly $7.5 billion.

However, BlackBerry said in a statement that it had "not engaged in discussions with Samsung" in regard to any likely deal. Samsung also did not make any comment regarding the issue.

This is not the first instance when BlackBerry has fallen prey to takeover rumours. The company is struggling to compete with the other smartphone manufacturers in the market, such as Apple, Samsung and LG which sells phones that runs Android. Microsoft is also proving to be a strong competitor.

In recent times BlackBerry has been concentrating more on services and software. Last year it bought the startup Movirtu. It allows people to set up distinct personal and business accounts separately on the same appliance.

In recent years the company has also signed up for many partnerships with Samsung. It includes one which provides a technology for mobile security and works with Android.

However, the Canadian company has not given up selling its smartphones totally and has released the Classic last year.