Does anyone have a solution for BlackBerry? That's what the Waterloo, Ontario-based smartphone maker wants to know. Today, the company announced that its board of directors has
formed a special committee
to "explore strategic alternatives" as it struggles to regain market
share to
competitors like Apple and Android. The alternatives could
include joint ventures, strategic partnerships, a sale of the company or
other possible transactions.
Earlier this year, BlackBerry released its long-delayed BB10
operating system, as well as the Z10 and Q10 smartphones. During its
first quarter earnings call, BlackBerry said it had only shipped 2.7
million of its new phones. It also reported an $84 million loss on $3.1
billion in revenue.
"We continue to see compelling long-term opportunities for
BlackBerry 10, we have exceptional technology that customers are
embracing, we have a strong balance sheet and we are pleased with the
progress that has been made in our transition," BlackBerry chief
executive Thorsten Heins said in the announcement.
But BlackBerry smartphones make up
only 2.9 percent of the global smartphone market,
down from 4.9 percent during the second quarter last year, says
Framingham, Mass.-based research firm IDC. Android, meanwhile, makes up
79.3 percent of the global smartphone market and Apple 13.2 percent.
While BlackBerry's earnings fall and its market share evaporates, the
company's portfolio of patents could be what's most valuable to a
potential buyer as litigation among smartphone makers heats up. Last
year, analysts speculated that the company's patents
could be worth as much as $4 billion if a bidding war were to erupt.
BlackBerry's new special committee is led by chairman Timothy
Dattels, who joined BlackBerry's board last summer. Dattels is an
investor at private investment firm TPG Capital and a former partner at
Goldman Sachs Group Inc.
Clued from the Mail.com
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