BlackBerry's interim CEO John Chen issued an open letter to BlackBerry's enterprise customers in which he declared that the company is here to stay. He also reminded the market that the company's BlackBerry 10 platform can perform mobile device management for other smartphone platforms, not just BlackBerry.
BlackBerry continued to reconfigure its operations as it tries to revive its business under interim CEO John Chen, and announced the departure of several top executives, including those responsible for the rollout of its BlackBerry 10 platform, which has failed to reignite sales.
BlackBerry is turning to former Sybase CEO John Chen to turn around its struggling business as its interim CEO, and will be banking on his history as a turnaround specialist. However, despite his background, Chen faces formidable challenges in reviving BlackBerry, analysts say.
BlackBerry announced it halted its plans to go private in a $4.7 billion deal led by Fairfax Financial Holdings, its largest shareholder, and will instead receive a $1 billion capital injection form Fairfax and other institutional investors. BlackBerry also effectively ousted CEO Thorsten Heins.
BlackBerry said that within the first 24 hours of availability, more than 10 million users had downloaded the cross-platform version of its signature Messenger app for Google's Android and Apple's iOS platforms. The BBM rollout is a bright spot for the struggling smartphone maker, which is considering going private and is reportedly being circled by other potential buyers.
BlackBerry made its signature Messenger chat service available on Monday afternoon to users of Google's Android and Apple's iOS platforms after weeks of delay. However, customers who did not pre-register to get the app will likely need to get a spot in line and wait a bit before getting access.
BlackBerry issued an open letter to customers and partners around the world, assuring them that the company is "here to stay" even as it contemplates going private and its future is up in the air.
BlackBerry co-founders Mike Lazaridis and Doug Fregin could decide to buy the company, according to a regulatory filing. The struggling smartphone maker is working with a consortium led by Fairfax Financial Holdings to take BlackBerry private in a $4.7 billion deal, but the firm can look for other suitors until Nov. 4.
BlackBerry's board is warming to the idea that the company could be broken up into pieces. The news comes amid growing concern that a consortium led by Fairfax Financial Holdings to take BlackBerry private in a $4.7 billion deal can't line up the financing to do so, according to a Bloomberg report.
BlackBerry is holding talks with Google, Cisco and SAP about selling all or part of itself, according to a Reuters report.