RIM ponders hardware sale
Research In Motion Ltd. jumped to to its highest level since late 2011 after its chief executive officer said the BlackBerry maker is considering strategic options, including a sale of its hardware production unit.
Possibilities include “the sale of hardware production as well as licensing of our software,” CEO Thorsten Heins was reported as saying in an interview with German newspaper Die Welt. Nick Manning, a spokesman for the Waterloo, Ontario-based company, said those options are examples that Heins cited among the possibilities under consideration in a strategic review.
The company hired JPMorgan Chase & Co. and RBC Capital Markets in May to help it evaluate options. While Heins hasn't ruled out a sale of the company, he has said RIM's focus is on exploring strategic partnerships or software licensing deals. On Jan. 30, RIM will debut the BlackBerry 10 devices, which the company is counting on to reverse a sales slide and help it win back market share lost to Apple Inc.'s iPhone and handsets that run Google Inc.'s Android software.
RIM closed up 15 percent to $18.23 in Toronto after climbing as high as $18.60 earlier in the day, the highest since Dec. 1, 2011.
The stock has more than doubled since September on growing optimism for BlackBerry 10's prospects. RIM didn't trade on Monday in New York because of the Martin Luther King Jr. holiday.
The strategic review continues “but there is no reason for us to rush to decide,” Heins was quoted as saying by Die Welt. “First and foremost, it's important to bring BlackBerry 10 successfully to market.”
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- U.S. oil, natural gas rig count drops by 34 to 954
- Renewed fears of Greek default whack stock market
- Is Big Brother a backseat driver?
- Jump in home loans, trading commissions lead to profitable 1st quarter for banks
- Mylan discounts speculation of a possible takeover by Teva
- Google’s changes to search results formula expected to shake up mobile economy
- EU regulators challenge Google’s domain
- Here’s how to clean your car
- Energy companies explore lower shales for greater yields of gas, liquids
- Dow Chemical, Olin in $5B cash-and-stock deal