WASHINGTON — BlackBerry shares rose as news of their buyout went public by 3%, which is an improvement from declining revenue and share prices since they rebooted their smartphone BlackBerry 10.
Reuters reported that BlackBerry, which at one time was Canada’s shining example of a leading smartphone company, has fallen on hard times.
Now, BlackBerry is accelerating an auction and buyout process to be sold by November. After Nokia’s cell phone division was bought out by Microsoft, BlackBerry saw a great opportunity as their sales process moves along.
Sony recently launched their own version of a smartphone, the Xperia Z1, to compete in the smartphone market.
Apple and Samsung have dominated the smartphone market since the demise of BlackBerry. Apple is going to launch a new update to their iPhone series and has a trade-in program for its customers to pay toward the new phone.