A PYMNTS Company

US: The Blackberry goes sour: smartphone company ponders sale

By  |  August 13, 2013

Following major revenue declines in the past two years, BlackBerry Ltd. announced Monday the company could be up for sale, said reports. The company told media it has established a committee of the board to explore ways to plug its draining market value, including a sale or joint ventures. While the company has no debt, BlackBerry’s market value nose-dived in 2011 by $65 billion, only to fall another $13 billion since. Now, data compiled by Bloomberg said the company is now the cheapest among its rivals throughout North America, with a market value of just $5.1 billion, compared with its value of $83 billion in 2008 Reports say the smartphone maker has $2.8 billion in cash that could finance plans to take the company private.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.