Blackberry forms committee to explore possible

Smartphone maker Blackberry is exploring
options for its business, which could see
the company sold off.
Timothy Dattels, a Blackberry board member,
will head a new committee that will consider
different business models, including
partnerships.
It wants to increase sales of its Blackberry 10
model, seen as crucial to the future of the
company.
"We believe that now is the right time to
explore strategic alternatives," said Mr Dattels.
"During the past year, management and the
board have been focused on launching the
Blackberry 10 platform and BES 10,
establishing a strong financial position and
evaluating the best approach to delivering
long-term value for customers and
shareholders."
Prem Watsa, chairman of Blackberry's largest
shareholder, Fairfax Financial, resigned from
the board as the formation of the committee
was announced. Mr Watsa said he wanted to
avoid any potential conflict of interest.
"I continue to be a strong supporter of the
company, the board and management as they
move forward through this process, and
Fairfax Financial has no current intention of
selling its shares," he said.
The company has struggled in recent years to
regain market share lost to Apple and users of
Google's Android operating system.
'What's on offer'
"It's quite surprising to see a statement like
this made publically," said Francisco Jeronimo
from the technology research firm IDC.
"Everyone knows that they've been struggling
and looking at their options. It's clear that
they haven't been able to find anyone who
wants to buy or form a partnership.
"Blackberry has very strong assets and is one
of the most recognised portfolios in the
industry.
"The question now is how much they're asking
and what's on offer."
Shares in the company closed up more than
10% at $10.78.
The company dropped its Research in Motion
name in January 2013 and rebranded as
Blackberry, to coincide with the launch of the
Blackberry 10 model.
In its most recent quarter, Blackberry lost
$84m (£54m) and expects to lose more money
in the three months to the end of August.
This story has been amended to reflect the
fact that Blackberry's second quarter finishes
at the end of August.