AAPL Stock: 117.81 ( -0.22 )

Printed from

BlackBerry board considering move to private ownership claims report

updated 05:08 am EDT, Fri August 9, 2013

Going private to provide company 'breathing room' to correct itself

BlackBerry could potentially become a privately-operated company, with executives seriously thinking about the idea, according to reports. Chief Executive Thorsten Heins, along with the rest of the board, is said to be warming up to the prospect, which would allow the company "breathing room to fix its problems out of the public eye."

Sources of Reuters claim there is "a change of tone on the board" following the latest underwhelming financial quarter, which saw the company revealed it had shipped just 2.7 million BlackBerry 10 OS smartphones and made a loss of $84 million on $3.1 billion in revenues. The value of shares in BlackBerry has dropped more than 19 percent this year alone, with the total market value now down to $4.8 billion from a considerably higher peak of $84 billion in 2008.

It is said that, while the board are considering the option, it has yet to start any sale process, and would also have trouble finding a buyer to go private in the first place.

At the last quarterly results conference call, the company revealed it was planning more mass layoffs on top of the 5,000 let go in the previous fiscal year, with the first casualties being 250 employees in its Waterloo product testing facility.

by MacNN Staff



Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Ultimate Ears Megaboom Bluetooth Speaker

Ultimate Ears (now owned by Logitech) has found great success in the marketplace with its "Boom" series of Bluetooth speakers, a mod ...

Kinivo URBN Premium Bluetooth Headphones

We love music, and we're willing to bet that you do, too. If you're like us, you probably spend a good portion of your time wearing ...

Jamstik+ MIDI Controller

For a long time the MIDI world has been dominated by keyboard-inspired controllers. Times are changing however, and we are slowly star ...


Most Commented