In a statement that was released today, the company confirmed that the special committee will enquire about possible joint ventures, strategic partnerships or even the sale of the company, but stressed that “there can be no assurance that this process will result in any transaction”.
Trading in BlackBerry shares was temporarily suspended but resumed trading at 8.30 a.m ET. Prem Watsa, chairman and CEO of Fairfax Financial – the largest BlackBerry shareholder – has said that he will resign because of potential conflicts that could arrive during this process.
This news follows a report from Reuters which revealed that BlackBerry was [...]
Announcing the results today, the company revealed that revenues increased from $2.8 billion a year ago to $3.1 billion but reported a GAAP (Generally accepted accounting principles) loss of $84 million.
This will come as a blow to the company, which renamed from Research in Motion at the start of the year.
The firm has made significant job cuts over the last year and had looked to have turned a corner when it reported a profit of $94 million just last quarter.
BlackBerry says that it shipped 6.8 million BlackBerry smartphones in Q1, which was up 13% on a quarter-on-quarter basis, and revealed that it also shipped 100,000 PlayBook tablets.
However, in a [...]