Is Apple Inc. (NASDAQ:AAPL) Interested In Blackberry Ltd (NASDAQ:BBRY)?

Posted by Lynn Eisler October 25, 2013 0 Comment 1179 views

There is some news that a new bidder has surfaced for BlackBerry Ltd (NASDAQ:BBRY). John Sculley, the former Apple Inc. (NASDAQ:AAPL) Chief Executive officer is supposedly interested in the company. There was no direct comment from Sculley in relation to this news. The only thing that he said was that BlackBerry Ltd (NASDAQ:BBRY) has a great deal of future value. However, he said that without a group of experienced people to operate this kind of a business and without a string strategic plan, it would be very challenging to run the company.

Falling on bad times

A spokesperson for BlackBerry Ltd (NASDAQ:BBRY) said that the company will not make any comments until the point a specific deal is reached or the process is finished. There was a time when the company was a frontrunner in the smartphone industry. Over the recent years, it fell on bad times and lost pace in the race against its competitors- Apple Inc. (NASDAQ:AAPL) and Google.

A few months ago, there was a report that mentioned that Scully said BlackBerry Ltd (NASDAQ:BBRY) should discontinue making hardware despite the fact that he had been a BlackBerry fan and used the company’s products for a long time. He noted that the company’s BB10 was a very well-designed Operating System and stated that the company lost pace only due to the strategy it followed. He said that the company should be able to come back on track if they defocused from hardware and channelized their energies and resources on secure messaging. He was also of the opinion that the company has the potential to achieve a good standing as a small-stature company just in the manner that BMW has in the automotive sector.

Thursday’s trading

In Thursday’s trading, BlackBerry Ltd (NASDAQ:BBRY) rose by 1.21%. The opening price of the shares was $8.21, which climbed to an intraday high of $8.27 and dipped to a close of $8.25.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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