The mobile phone brand could be sold off as the Canadian company struggle to keep it afloat. With share prices dropping from $14.48 to $10.29 in just 24 hours recently, directors are beginning to view their options as to what can be done with the once popular business.
BlackBerry were amongst the most purchased smartphones just 3 years ago, with their operating system being on more phones than Apple and double the numbers of now market leader Android. Some blame the company’s lack of ability to innovate, instead resting on the success of BBM and their monopoly on the messaging market. However the emergence of apps such as WhatsApp has transferred that power to iPhones and those featuring Android.
BlackBerry have since attempted to regain market share with the release of the BB10 operating system alongside the Z10 and Q10. These have failed to capture the imaginations of the mass market, causing the manufacturer to tumble out of the most popular handset manufacturers as recognised by Gartner for the first time since 2008.
The people tasked with deciding the future of BlackBerry have been put in place since the company employed investment firm JP Morgan to advise them. Former employee of JP Morgan’s historical competitor Goldman Sachs, Timothy Dattels, has since been place in charge, who has now spoken about the need for the company to review their options. He said “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”.
The alternative could be an outright sale, joint-venture or partnership aiming to steady the ship. With other mobile phone manufactures such as market leader Samsung and Apple posting a drop in sales figures recently, it may be the perfect time to do so.