Featured Articles

Apple iPad Air 2 costs $275 to build

Apple iPad Air 2 costs $275 to build

IHS has told Recode that the Apple iPad Air 2 16GB Wifi costs only $275 to build -- not bad…

More...
LG sells 16.8 million smartphones in Q3 14

LG sells 16.8 million smartphones in Q3 14

As Samsung is losing market share, another Korean company, which many had written off, is gaining.

More...
LG G Watch R EU price set at €299

LG G Watch R EU price set at €299

LG G Watch R is probably the best looking Android Wear device on the market and many have been waiting for…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 05 November 2013 12:53

Blackberry fires CEO, gives up on selling itself

Written by Nick Farrell



Thorsten Heins replaced by fix-it-upper

BlackBerry has given up trying to sell itself and said its CEO is stepping down. BlackBerry named John Chen, credited with turning around Sybase in the late 1990s, as its interim CEO and executive chairman. Chen sees Blackberry as a nice fix-it-upper and thinks he can turn it around.

 

Shareholders disagree. Share prices fell 16 percent on the news. Word on the street is that Chen will have to find a rabbit to pull out of the hat really soon. The company had been trying to sell off all or part of itself for two months. Instead, it will raise $1 billion by issuing convertible notes to a group of long-term investors including its largest shareholder, Fairfax Financial Holdings.

The money will buy the company a little more time to come up with a cunning plan.

Last modified on Tuesday, 05 November 2013 13:05

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments