| Thread Tools |
6th November 2013, 07:16 | #1 |
[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 148,553
| Blackberry can't sell its way out of jam Troubled mobile phone seller Blackberry has worked out that it can't sell its way out of its jam. The phone maker, formerly known as RIM, abandoned its plan to sell itself and said its CEO Thorsten Heins is stepping down. On the back of the news, shares fell 16 percent as investors feared that the outfit was running out of ideas. BlackBerry said it will abandon a sale and will raise $1 billion by issuing convertible notes to a group of long-term investors including its largest shareholder, Fairfax Financial Holdings. Fairfax was the only one who seriously wanted to buy the company, for $4.7 billion. Analysts told Reuters that the company was back to its downward spiral. The company has $1 billion more cash that buys them time but the drumbeat of negativity is likely to continue. BlackBerry named John Chen, credited with turning around Sybase Inc in the late 1990s, as its interim CEO and executive chairman. Sybase, an enterprise software company, was eventually acquired by SAP AG in 2010. No one has explained why Heins had to go. Chen said that he has no interest in shutting BlackBerry's loss-making handset business and believed he could turn it around. http://news.techeye.net/business/bla...way-out-of-jam |
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
BlackBerry 10 not coming to BlackBerry PlayBook tablets | Stefan Mileschin | WebNews | 0 | 1st July 2013 06:25 |
BlackBerry Live 2013: BlackBerry changes course | Stefan Mileschin | WebNews | 0 | 20th May 2013 07:01 |
Thorsten Heins: BlackBerry won't sell sub-$50 phones | Stefan Mileschin | WebNews | 0 | 11th March 2013 06:38 |
BlackBerry 10 launched, BlackBerry Z10 and Q10 to lead the charge | Stefan Mileschin | WebNews | 0 | 31st January 2013 07:28 |
Nintendo Wii U to sell for around 30,000 yen, or just under $400 | Stefan Mileschin | WebNews | 0 | 5th June 2012 08:05 |
HP decides it will sell a tablet after all | Stefan Mileschin | WebNews | 0 | 5th October 2011 06:31 |
AMD Denies Fab Sell-Off | jmke | WebNews | 0 | 25th July 2008 08:56 |
9600GT to sell like hot cakes at €150 | jmke | WebNews | 0 | 14th February 2008 14:11 |
HD 38x0 top end to sell for $199 | jmke | WebNews | 1 | 31st October 2007 21:07 |
Sell, sell, sell! Memory prices crashing | jmke | General Madness - System Building Advice | 1 | 25th January 2003 14:46 |
Thread Tools | |
| |