Printed from http://www.electronista.com

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 Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Adesso Xtream S3B Bluetooth speaker

Finding a speaker purpose-built for a specific need is challenging. Even when a Bluetooth speaker can be paired with a mobile device, ...

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Razer Taipan mouse

The list of gaming devices is growing larger with each passing day. A large number of companies have entered the gaming input arena, a ...

Sponsor

toggle

Most Commented

 
toggle

Popular News