Unable to cope up with the demanding challenges of the industry, BlackBerry, the smartphone manufacturer that recently made attempt to revamp its tarnished image by releasing two smartphones, has put itself up for sale, apparently giving up on its ambitions of beating iOS, Android.
BlackBerry made remarkable achievement in sales when it was launched in 1999, but it failed to match the standards set by Apple’s iPhone in 2007. Consumers are now looking forward for new applications introduced by Apple rather than preferring Blackberry.
According to a latest research, the handset makers of Canada have failed to attract customers to buy its new BlackBerry 10. In order to survive in an open market the company is now considering the option of a sale or joint venture. Ben Wood, analyst at CSS Insight, told Financial Times:
“While clearly not the end of the story, BlackBerry in its current form has come to an end. BlackBerry can’t do it on its own any more – it was slow off the blocks when Smartphone came out and closing the gap when Apple and Samsung have created such a formidable lead has proven impossible.”
The company needs to sell its shares by lowering down their price as the new operating system of BlackBerry 10 has failed to meet the expectation. An analyst with Canaccord Genuity, Mike Walkley said, even after deducting the prices the company has failed to achieve its targeted sales.
“Now they have to go to the next step of what’s best for the company and shareholders to survive long term because it doesn’t look promising on BlackBerry 10 sales,” he said.
But according to different reports the company raised its stock in order to adopt the offers to take the company private. The company to explore strategic alternatives is planning to form a special committee to look after the new technologies in a BlackBerry.
“These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the company or other possible transactions,” it said in a statement.
The industry is changing continuously and consumers are looking forward for new opportunities. BlackBerry in this regard thinks about exploring these opportunities due to evolving industry and competitive landscape.
Blackberry’s Recent Downslide May Force The Company To Go Private
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