BlackBerry For Sale?

BlackBerry has announced that its board of directors has formed a Special Committee in order to explore its options going forward – up to and including selling the company.

Its an attempt to “enhance value and increase scale in order to accelerate BlackBerry 10 deployment”, according to the companys statement. The strategic alternatives being discussed also include joint ventures, partnerships and alliances with other companies – but its the explicit mention of a potential sale that stands out.

The announcement follows BlackBerrys financial results for Q2, 2013, which saw it reporting losses of $84m (£54m) and expects to lose more money in the three months to the end of September.

“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,” said Thorsten Heins, BlackBerry president and CEO. “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, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network.”

Meanwhile, Prem Watsa, CEO of Fairfax Financial – BlackBerrys largest shareholder – has resigned from the board ahead of the talks. The move is due to potential conflicts that may arise, though he confirmed the company has “no current intention of selling its shares”.