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August 9, 2013

BlackBerry considers going private

No deal is imminent and no sale process has been launched.

By Amy-Jo Crowley

Blackberry has reportedly considered the possibility of going private, as the smartphone maker fails to turn around weakening sales.

The Canadian company, formerly known as Research in Motion, said that going private would give them space to sort out problems, according to Reuters.

"There is a change of tone on the board," sources told them.

However, they said no deal is imminent and no sale process has been launched.

It has also been suggested that BlackBerry could have trouble finding a buyer to go private, given its shrinking share of the global smartphone market and share prices.

The Ontario-based company’s market has dropped from a peak of $84bn in 2008 to $4.8bn in recent times, while its shares have fallen by more than 19% this year.

One of the sources also said BlackBerry has recently held talks with Silver Lake Partners, the private equity group trying to take Dell private, about collaborating in enterprise computing.

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Last month, CEO Thorsten Heins said BlackBerry was on the right track and planned to announce more BlackBerry 10 devices over the coming months.

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