BlackBerry Loses Its Final Sweetness, Looks Into Options For Sale

The once-giant BlackBerry has said it’s looking into ways it could be sold, in a frank admission it’s failing to compete in the smartphone game.

BlackBerry Loses Its Final Sweetness, Looks Into Options For Sale

BlackBerry has admitted in a press release that it’s beginning to look at how it can totally revamp its business in order to make money. One big option, of course, is sale of the company, and this represents the ultimate defeat at the hands of rivals like Apple and Google.

The press release notes:

BlackBerry Limited… a world leader in the mobile communications market, today announced that the Company’s Board of Directors has formed a Special Committee to explore strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment. These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions.

In recent weeks rumors emerged from the Canadian company that suggested there was some serious trouble at the top. Reuters reported that CEO Thorsten Heins was open to taking the company into private hands, even though there was no imminent deal on the table. Reuters also noted the company’s mad market value fall from 2008’s $84 billion to around $4.8 billion now, and this is likely the real motivator in today’s news–the board has decided the company has slumped far enough in its current state.

The reasons for the company’s failure are manyfold, but one of the chief culprits has to be Apple’s iPhone, which caught the Canadian firm on the hop–it had been king of the mobile “smartphone” world, at least in terms of business use, for years but had nothing even close to the iPhone under development. When it did eventually leap aboard the full-touchscreen smartphone bandwagon it did so late and in a fairly bungling manner.

[Image via Flickr user: Quinn Dombrowski]

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