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BlackBerry forms a Special Committee to consider its alternatives on continued sales woes

The board of directors for smartphone maker BlackBerry has announced the formation of a Special Committee to explore strategic alternatives to enhance the value and accelerate the development of BlackBerry 10. The announcement comes only a few days after a report surfaced that BlackBerry might go private to attempt to fix its problems outside of the public eye.

The Special Committee of the Board includes Barbara Stymiest, Thorsten Heins, Richard Lynch and Bert Nordberg. The chair of the Special Committee is Timothy Dattels.

"During the past year, management and the Board have been focused on launching the BlackBerry 10 platform and BES 10, establishing a strong financial position, and evaluating the best approach to delivering long-term value for customers and shareholders," said Dattels. "Given the importance and strength of our technology, and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives."

Heins, President and Chief Executive Officer of BlackBerry, added, "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. As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones."

BlackBerry points out that there is no assurance that exploring strategic alternatives will result in any transaction. BlackBerry also states that there will be no disclosure of further developments with this process unless the special committee reaches a specific solution or “conclusion”.

Source: Market Wire

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LOL.... great timing.
By retrospooty on 8/12/2013 10:02:54 AM , Rating: 3
In Q3 3013 Blackberry is forming a "Special Committee to explore strategic alternatives".

To pull this old gem out of the closet: 2007 called... It want's it's good idea back.

By darkpuppet on 8/12/2013 10:49:28 AM , Rating: 2
BB (aka RIM) had their chance years ago to set a direction that would save the company. When they had technology that nobody else had and services nobody else could deliver.

Now, anything a BB can do, competing smartphones can do just as well, and now for less cost. To think that someone wants to buy BB for their technology is like thinking HP bought Palm to do something innovative (they didn't).

BB needs to realize one thing right now -- they need to get into a different industry, switch to services that support the current smartphone market, or shrink into a niche market and close 2/3rds of their business (which won't make any short-term money for shareholders).

Restructure? Sell? those might be short term hopes, but the long term one is this -- BB is dying, and if they can't find a gracious exit or new market RIGHT NOW, they'll be the next Nortel -- scraps of IP carrion to be picked over long after their death.

By DukeN on 8/13/2013 9:19:11 AM , Rating: 2
It will have so much fun playing all day long at the upstate farm.

By samuel1c.handel on 8/12/13, Rating: 0
"There is a single light of science, and to brighten it anywhere is to brighten it everywhere." -- Isaac Asimov
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