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BlackBerry weighs putting itself up for sale

 

The Associated Press

 

TORONTO -- BlackBerry will consider selling itself after the long-awaited debut of its new phones failed to turn around the struggling smartphone maker. 

 

The company said Monday that its board has formed a special committee to explore "strategic alternatives" in hopes of enhancing the company's value and boosting adoption of its BlackBerry 10 platform. 

 

The company said its options could also include joint ventures, partnerships, or other moves. 

 

The Canadian company's U.S-traded stock closed up 10.5 percent to $10.78 on Monday. 

 

The BlackBerry, pioneered in 1999, had been the dominant smartphone for on-the-go business people and other consumers before Apple debuted the iPhone in 2007 and showed that phones can handle much more than email and phone calls. In the years since, BlackBerry Ltd. has since been hammered by competition from the iPhone as well as Android-based rivals. 

 

In January, the company unveiled new phones running a revamped operating system called BlackBerry 10 designed to better compete. But its market share continues to lag.

 

 

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