BlackBerry has issued a statement denying recent claims it will be bought by consumer
electronics brand Samsung.
Speculation about a possible sale began after Reuters allegedly reported that executives from
BlackBerry and Samsung had met to discuss a potential $7.5bn deal, causing a 30% rise in BlackBerry
shares.
At January's International CES in Las Vegas, BlackBerry CEO John Chen told the telegraph it would focus on its enterprise business over the next year, but would still manufacture smartphones for the consumer market.
But the CEO admitted these consumer-facing products would not be in direct competition with larger brands.
This focus on the enterprise has always been at the forefront of Chen’s plans, and since he joined the company as interim CEO in November 2013 he has been highlighting the importance of refocusing on what BlackBerry was once known for.
At Mobile World Congress 2014, John Chen admitted to Computer Weekly that aiming to break into the consumer smartphone market had caused the company to lose sight of its main focus on mobility, business handsets and security software.
The firm’s return to enterprise tech appeared to be paying off when the second quarter of the year saw BlackBerry’s EZ Pass program issue 3.4 million licences for its secure enterprise service BES10 – up three times on 2013 – with a quarter of licences traded in from rival providers.
The firm also attempted to release a smartphone for the enterprise, reminiscent of its old enterprise handsets, the Blackberry Passport.
But the changes didn’t stick, and the last quarter of 2014 saw BlackBerry make a loss, with revenue down 64% from the same quarter in the previous year.
Despite these losses, in its end-of-year results report the firm claimed it would be looking for “streamlining” opportunities and intends to break even on cashflow by the end of 2015.
Chen said: "BlackBerry is on sounder financial footing today, with a path to returning to growth and profitability."
Speculation about a possible sale began after Reuters allegedly reported that executives from
BlackBerry and Samsung had met to discuss a potential $7.5bn deal, causing a 30% rise in BlackBerry
shares.
BlackBerry’s statement said: “BlackBerry has not engaged in discussions with Samsung with
respect to any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on
rumours or speculation, and accordingly it does not intend to comment further.”
At January's International CES in Las Vegas, BlackBerry CEO John Chen told the telegraph it would focus on its enterprise business over the next year, but would still manufacture smartphones for the consumer market.
But the CEO admitted these consumer-facing products would not be in direct competition with larger brands.
This focus on the enterprise has always been at the forefront of Chen’s plans, and since he joined the company as interim CEO in November 2013 he has been highlighting the importance of refocusing on what BlackBerry was once known for.
At Mobile World Congress 2014, John Chen admitted to Computer Weekly that aiming to break into the consumer smartphone market had caused the company to lose sight of its main focus on mobility, business handsets and security software.
The firm’s return to enterprise tech appeared to be paying off when the second quarter of the year saw BlackBerry’s EZ Pass program issue 3.4 million licences for its secure enterprise service BES10 – up three times on 2013 – with a quarter of licences traded in from rival providers.
The firm also attempted to release a smartphone for the enterprise, reminiscent of its old enterprise handsets, the Blackberry Passport.
But the changes didn’t stick, and the last quarter of 2014 saw BlackBerry make a loss, with revenue down 64% from the same quarter in the previous year.
Despite these losses, in its end-of-year results report the firm claimed it would be looking for “streamlining” opportunities and intends to break even on cashflow by the end of 2015.
Chen said: "BlackBerry is on sounder financial footing today, with a path to returning to growth and profitability."
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