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Days after the $7.2-billion sale of Nokia’s phone unit to Microsoft, another struggling phone maker, Blackberry is also hoping to make a quick sale, the Wall Street Journal reported on Wednesday.
The report said the Canadian smartphone maker, which has seen its market share crumble since the emergence of the iPhone and Android smartphones in 2007, is in talks with several potential buyers and hopes to conclude a deal by November.
The Canadian company once controlled almost half the US market but now accounts for just 3 per cent of sales, according to research firm IDC.
Blackberry formed a committee last month to explore its strategic alternatives, and the report said its talks so far have focused on private-equity buyers and Asian tech firms.
Analysts are unsure what effect the Nokia-Microsoft deal could have on Blackberry’s sales price. On the one hand it demonstrates that there could be significant value to an established smartphone company that runs its own ecosystem. On the other hand, the deal removes Microsoft from the list of potential buyers.
Blackberry shares once traded as high as $200, but are now valued at around $10. The report said the company has engaged JP Morgan Chase & Co to run the sales process.
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