BlackBerry brushes aside suggestions of its demise
WASHINGTON: BlackBerry is launching a campaign aiming to reassure its customers it intends to stay in business, brushing aside suggestions of its impending demise.
"You can continue to count on BlackBerry," says an open letter to customers from the ailing smartphone maker that appeared in yesterday's Washington Post and other news outlets.
"How do we know? We have substantial cash on hand and a balance sheet that is debt free."
The letter points out that the group is "restructuring with a goal to cut our expenses by 50 per cent in order to run a very efficient, customer-oriented organisation".
The company signed a letter of intent for a US$4.7 billion (RM14.95 billion) buyout by Fairfax Financial Holdings Limited, but also left the door open to other offers.
Last week, BlackBerry co-founder Mike Lazaridis indicated in a regulatory filing he has boosted his stake in firm with the intention of making an acquisition bid.
The private equity firm Cerberus Capital Management also has expressed interest in a bid for BlackBerry.
Some analysts have said, however, that BlackBerry has fallen so far behind Apple and manufacturers using the Google Android operating system that its only hope is a breakup, which could salvage its software and services operations. Reuters