Rumours have been going around that Cerberus Capital Management LP is interested in Blackberry and this article published on October 2nd further confirmed this fact. Blackberry Ltd. has been under extreme pressure to find a buyer as quickly as possible as the sale process itself is likely to be scaring away a big portion of its remaining customers. It is not yet clear whether Cerberus would eventually bid for Blackberry, but in the meanwhile, Fairfax Financial Holdings Ltd. remains the only player holding a tentative offer. Blackberry reported a $1 billion quarterly loss because its new line of smartphones flopped, like the Blackberry Z10. This company, once shining in glory for its qwerty keyboard, has now hit rock bottom as the hype quickly shifted towards Apple’s and Google Android’s virtual keyboard. Reality can sometimes be horrific as the more technology advances, the faster the consumer tastes will change and companies end up having a difficult time keeping up with them whilst keeping a lead from their competitors. They need to adjust in accordance to the needs and wants of the consumers. Companies need to learn to adapt well to changes and for Blackberry right now, what they need is a firm offer in order to salvage any hope of a turnaround.
Sources:
http://www.technesstivity.com/2011/06/rim-going-down-the-beginning-of-the-end/
http://www.economist.com/blogs/schumpeter/2013/09/blackberry