Back in September, BlackBerry announced that it was up for sale. A few weeks later, the news broke that Fairfax, one of BlackBerry’s existing shareholders,

BlackBerry And The Pursuit Of Happiness

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BlackBerry - Not For Sale

Back in September, BlackBerry announced that it was up for sale. A few weeks later, the news broke that Fairfax, one of BlackBerry’s existing shareholders, was interested in buying the troubled smartphone maker for the sum of $4.7 billion, depending on a number of factors. According to reports, BlackBerry has also since approached a handful of possible buyers.

Yesterday, however, the news was broken that BlackBerry was no longer up for sale. Apparently, Fairfax was unable to raise the cash. So, what has happened is that Fairfax and other investors will inject $1 billion into the company and attempt to chart a new course for it. Part of the deal is that CEO, Thorsten Heins, be replaced. John S. Chen, who has “outstanding track record” of pulling struggling companies back from the valley of the shadow of death, will run the company till further notice. Apparently, Lenovo didn’t push further with their interest in BlackBerry due to the Canadian authorities disapproval of the company falling into the hands of the Chinese.

The new CEO has already stated that BlackBerry will continue to manufacture mobile devices, so we can expect new phones. Cross-platform BBM has taken off well and if sustained and harnessed in some way, can be a bright light in the company’s fortunes.

The question on everyone’s lips is, “Can BlackBerry be saved?” The answer will vary depending on who you ask. Turnarounds have been executed successfully again and again, so it is possible. Again, we can only wait to see how this turns out.

You can read more on this development: BlackBerry financing aims for a new lease on life.

  1. Sure; any company can be turned around.

    With enough drive, foresight, vision, less vacillation and focus, it is possible.

    Aiming to be a major player again in the smartphone market coukd be tough. But running profitably should be easily achievable

    Replacing the CEO with a turnaround specialist should give the company fresh thinking, a new perspective

    The One Billion Dullards injection should come in quite handy too.

    Good producst, reasonable / competitive pricing, embellished ecosystem. Home run.

  2. It is going to be interesting seeing how things work out eventually for BlackBerry, but my guess is that the new CEO could embrace Android fully now but there’s still going to be the problem of differentiation among the other Android OEMs but it still possible especially since the is a good number of BlackBerry fans that still support hardware QWERTY keyboards. Again, there’s some other values to be had in using BlackBerry devices that’s normally part of the BlackBerry services.

    I think the most difficult past of trying to reposition BlackBerry will be being able to price BlackBerry devices competitively going forward in order to be able to attract new BlackBerry users.

    Nice new look for the Mobility Blog site. I initially thought I clicked on the wrong link when I saw the new blue-themed page but easily confirmed that it is the right page by checking the URL. Good work Mr Mo.

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