Some time ago, I wrote an article about Blackberry’s downfall. Now the downfall has turned into a spiral. And it looks like this once technical powerhouse has past the point of no return.
Friday, Blackberry stocks tanked to under $9 a share. They’re about to report a loss of almost one billion dollars. They’ll be lucky to make half the revenue they expected to in Q2 2013. They plan to cut 4,5oo jobs and nearly half it’s operations in the next several months. The company sold only 3.7 million smartphones this fiscal quarter(a three month period). How many iPhone 5Ss’ were sold yesterday?
No wonder Blackberry co-founder Mike Lazaridis stepped down last year. He doesn’t want to go down with the sinking ship. Plus, shareholders pressured him to leave, but if it were me, I wouldn’t even have waited that long.? But he is looking for bids and a buyout for his sinking ship. He talked to some equity companies, but they didn’t end in agreements. We don’t know if they will. And upset shareholders can’t seem to agree on anything. It makes me wonder if an equity firm or any company even want to take a chance. Well there has been previous incidents in the business world where a buyout literally saved the company. The question is can Blackberry be saved at all?