Blackberry cellphones were once one of the top mobile devices known for its user friendly keyboard and the security it provides. It was mainly geared towards the business world with it’s excellent connectivity. However, over the past years, Blackberry (Research in Motion) has failed to keep its consumers because of the lack of new innovation compared to other companies such as Apple, Samsung etc. The company overall has been performing poorly and has led to huge price drops in the stock market. The shares for Blackberry has declined nonstop since 2008 from $150 per share to now at around $8 as of September. 25 2013.
This lead to the Fairfax Chief Executive Prem Watsa to making the deal for Blackberry at $4.7 billion. Prem Watsa completed his bachelor’s degree in chemical engineering from the Indian Institute of Technology. Also known as the “Canadian Warren Buffet”, Prem Watsa has had a good reputation for making profits from bets on companies and market trends that looked ill advised at the time, but later turns out to be a correct decision. The RIM company is not running at its highest points at the moment so has Prem Watsa made a good deal ? He says that he does not see Blackberry’s fortune being turned around overnight, but in around four to five years, things will be different for Blackberry. In my opinion, I think that it will be hard for Blackberry to rise again to the top since it has lost so much of the market already do its competitors within these past years. However, I think Watsa is fully capable of changing Blackberry’s future with his skill sets, and I am curious to how he will go about doing so and what the outcome will be in the coming years.

References:

http://globalnews.ca/news/862262/blackberry-shares-extend-their-decline/

http://globalnews.ca/news/858313/blackberry-strikes-deal-to-sell-itself-to-consortium/