Updated on December 10, 2021
In a surprise bit of news today came word that Blackberry’s impending sale reported in September has fallen through. Instead, the company plans to raise $1 billion while letting go its now-former CEO Thorsten Heins, replacing him with interim CEO John S. Chen.
The stock market apparently didn’t like this news, as Blackberry’s value declined today by 16%. Chen claims the company will stay in the smartphone making game, but given the Blackberry Z10 didn’t do so well (and was much hyped as their biggest hope), I’m not sure what they can do at this point. As I’ve said before, while Blackberry was the dominant pre-iPhone smartphone name, the market’s since settled on Android or iOS as the main smartphone/tablet operating systems of choice, with Windows Phone barely making any headway.