BlackBerry's survival hinges on things happening this coming week

BlackBerry's survival hinges on things happening this coming week
If there ever was an important week for BlackBerry, this coming one is it. Any bidders that want to compete with the $4.7 billion offer from Fairfax Financial will have to submit their bid to BlackBerry tomorrow (Monday). There are rumors that two of the company's founders, including former CEO Mike Lazaridis, will be putting in a bid while some non-financial firms like Cisco, LG, Samsung, Microsoft and Google are said to be interested in the beleaguered company.

Fairfax Financial Holdings happens to be BlackBerry's largest shareholder, but the $9 bid it made to buy the rest of the company it doesn't own, is lacking financing. According to Reuters, banks are "declining to participate on concerns that the smartphone maker will not be able to reverse its fortunes". Without financing from a financial institution, the Fairfax offer is worthless. The bidding team that includes former founders Lazaridis and Douglas Fregin also includes Cereberus Capital Markets. And there is speculation that chipmaker Qualcomm will join this group. 

Before the year started, BlackBerry hoped that it might be able to make a strong showing as the number three OS and sneak in ahead of Microsoft. But Windows Phone has momentum and a number of new models that can go up against Android and iOS. It isn't clear new ownership will be able to right the ship at BlackBerry.

source: Forbes

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14 Comments

1. slaggyb

Posts: 218; Member since: Oct 19, 2011

Allan F stop been a propaganda. Blackberry Ain't going nowhere regardless of what happens this week.

6. woodshop20

Posts: 459; Member since: Sep 14, 2013

Blackberry is inevitably going to be sold off to another company. They've tried so many times to revive themselves since the arrival of IOS and Android, and failed almost every time.

13. Tommy1960i

Posts: 144; Member since: Oct 11, 2013

Now is too late for them. For a better price in 2009 for example samsung sold better phones with entertainment and business class but BB wanted only work. People changed because work is not eveything in their life, we need fun and other things too.

11. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

Cereberus is a vulture. Once they start circling, it is over. They hastened Chrysler's demise. Now they get to do a repeat performance with BB.

14. frmrVZguy

Posts: 42; Member since: Mar 10, 2012

Heins was just reported fired minutes ago see theglobeandmail.com or search article title "report-on-business/blackberry-fairfax-deal-dies-t​horsten-heins-out"

2. woodshop20

Posts: 459; Member since: Sep 14, 2013

I really hope either Lenovo or Google buy BlackBerry. All the other companies are more interested in buying patents (for patent trolling) and leaving the Blackberry brand to die.

4. Taters

Posts: 6474; Member since: Jan 28, 2013

If you want all the bs to stop, you better hope Samsung gets their patents. Someone needs to teach Apple a lesson and only Samsung has the guts to do it.

5. woodshop20

Posts: 459; Member since: Sep 14, 2013

No-one can teach Apple a lesson with the backing of the US Government. Only Motorola and Google can do it - the other American companies. Otherwise they'll just be bias against the other foreign companies and Apple will win their pointless patent wars again.

3. xperiaDROID

Posts: 5629; Member since: Mar 08, 2013

Good luck, BlackBerry.

7. noteseries

Posts: 80; Member since: Oct 29, 2013

they should start making an Android phone

8. funchumm1206

Posts: 52; Member since: Mar 04, 2013

Their purchase of qnx was a waste. They should have made android phones with Blackberry's assets.

9. Genersis

Posts: 219; Member since: May 29, 2013

I just hope a tech company acquires it; will hopefully lead to a few interesting developments. Personally I would of wanted HTC to purchase it, so they have their own platform to work on, but that is, for obvious reasons, incredibly unlikely; HTC facing a similar fate. I guess a Microsoft acquisition could prove interesting, wanting to make Windows Phone more appealing for business applications. I'm really not sure what Google would do with it, but I guess that's why they're my third choice. I doubt the others listed would do anything with Blackberry.

10. snowgator

Posts: 3614; Member since: Jan 19, 2011

BlackBerry came to a complete "Stop" when the PlayBook wasn't a success. It just seemed when the Tablet tanked, they decided to stick with what worked with BB07 for another year and a half rather then take anymore chances. By the time the CEO's were forced out, the BB10 roll out was months behind and consumers who were die-hard users were sick of waiting. It took another year to get the Z10 out, and by then WP had it's foot in the door. I love the BB10 OS, but there just is so much concern over the future of this company that it will take another year for the average consumer to build enough confidence in BB to roll the dice on them. Sad to see such an important company have such a shaky future. I am still cheering for them.

12. JakeLee

Posts: 1021; Member since: Nov 02, 2013

It's game over for BB. There is simply no hope.

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