Lenovo CEO Considers Buying BlackBerry
March 12, 2013 9:21 AM
comment(s) - last by
BlackBerry isn't saying a word about it, but it's shares are rising
Lenovo's slip about possibly buying BlackBerry sent the
shares up 14 percent in New York.
CEO Yang Yuanqing told French financial newspaper "Les Echos" that it could eventually buy BlackBerry, but it needs to review such a decision first.
"[The deal] could possibly make sense, but first I need to analyze the market and understand what exactly the importance of this company is," said Yuanqing.
This statement falls in line with what Lenovo CFO Wong Wai Ming said in January, which was that the company was looking at many opportunities -- including BlackBerry.
However, BlackBerry CEO Thorsten Heins hasn't addressed a possible takeover yet.
“As always with these topics, we will talk about things when they are ready to be talked about and ready to be announced,” Heins said in January. “There are other constituents in the process that need to be involved -- if there would be anything.”
BlackBerry shares increased 14 percent to $14.90 at closing in New York after news of Lenovo's interest got out.
BlackBerry, formerly Research in Motion (RIM), has been trying to make a comeback after losing market share to the likes of Apple's iPhone and Android-powered mobile devices. Even
, which traditionally used BlackBerry phones, have started using iOS and Android products.
BlackBerry introduced its latest line of software and devices --
BlackBerry 10 (or BB 10)
-- in January of this year. At that time, it revealed the BlackBerry Z10 and the Q10 phones.
The Z10 finally came to the U.S. today as
AT&T begins its presale
for $199 (with a two-year contract). The phone actually ships March 22.
It remains to be seen whether BB10 will save BlackBerry, but Heins seems optimistic. He was recently quoted saying that Z10 sales in Europe were
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3/12/2013 10:40:00 AM
Yup, HP buying Palm, doing nothing with it and closing it a year later is not the same as Lenovo. Lenovo bought the most popular business PC/Laptop line in the world and when everyone assumed they would cheapen the thinkpad line and make a quick profit, they put money and effort into it and actually made it better than IBM ever was... Levovo quality is the absolute best in the business.
3/12/2013 10:52:12 AM
Buying Palm was the idea of Mark Hurd.
If he was not stupid enough to pay for the Escort services of a former B Grade model with expenses from official HP account, WebOS would have had some life in the company rather than being decimated.
3/12/2013 10:57:37 AM
Ya, I realize things would have gone differently depending on Hurd, but what happened happened. It's an overall comment on how mismanaged HP is and has been for at least a decade. The board is at fault for hiring loser after loser to run the company into the ground.
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