BlackBerry considering putting itself up for sale

New York: Struggling smartphone maker BlackBerry will consider selling itself.The Canadian company said Monday its board has formed a special committee to explore “strategic alternatives” in hopes of boosting the adoption of its BlackBerry 10 smartphone.

The company says its options could include joint ventures, partnerships or other moves. The company’s shares had risen Friday on reports that it might have interest in the idea of someone taking it private.

Thorsten Heins, President and Chief Executive Officer of BlackBerry, said in a press release, “We continue to see compelling long-term opportunities for BlackBerry 10, we have exceptional technology that customers are embracing, we have a strong balance sheet and we are pleased with the progress that has been made in our transition. As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network.”

BlackBerry Ltd has been hammered by increased competition from its Apple and Android-based rivals.

In January, BlackBerry unveiled new phones running a revamped operating system called BlackBerry 10 designed to better compete, but its market share continues to lag.

With inputs from Associated Press