BlackBerry former co-CEO Balsillie sells entire stake

Feb 14, 2013
Jim Balsillie speaks in Dubai on October 18, 2010. Balsillie, the former co-CEO and a driving force behind BlackBerry, no longer owns shares in the Canadian smartphone maker, according to a US securities filing

Jim Balsillie, the former co-CEO and a driving force behind BlackBerry, no longer owns shares in the Canadian smartphone maker, according to a US securities filing Thursday.

Balsillie, who stepped down last year, said he had sold his entire stake in the company—more than 26 million shares or roughly a five-percent stake—as of December 31, 2012.

The news comes after last month launched two glitzy new devices, the Q10 and Z10, in a bid to revive its sagging fortunes and regain lost market share from Apple and other smartphone makers such as .

Balsillie joined the company in 1992 and helped its rise to prominence.

While BlackBerry helped create a culture of who were glued to the company's smartphones—dubbed "crackberry addicts"—many of those customers have since moved to Apple or Android-based phones.

BlackBerry shares rose 2.43 percent to Can$14.29 in morning trading in Toronto.

Explore further: Nokia turnaround since handset unit sale continues

add to favorites email to friend print save as pdf

Related Stories

Home Depot calls up iPhone, drops BlackBerry

Feb 12, 2013

Canadian smartphone maker BlackBerry was handed a crushing setback for its glitzy new handsets when its major customer Home Depot confirmed on Tuesday it was switching to Apple's iPhones.

BlackBerry says new phones won't be sold in Japan

Feb 08, 2013

The smartphone maker BlackBerry confirmed Friday that it has no immediate plans to sell its new handsets in Japan, but the company denied it was abandoning one of the world's most tech-savvy nations.

BlackBerry maker stock slips to new low

Jun 04, 2012

Shares in BlackBerry maker Research In Motion fell below $10, the lowest point in nearly eight years, amid growing concerns about the outlook for the troubled smartphone maker.

RIM shares down on BlackBerry revenue miss

Mar 24, 2011

(AP) -- Research in Motion Ltd.'s stock took a hit Thursday after the maker of the BlackBerry reported revenue from its recently concluded quarter that fell short of expectations and warned that sales in ...

Recommended for you

Nokia turnaround since handset unit sale continues

16 minutes ago

Nokia appears to have turned around its fortunes after the sale of its ailing cellphone unit to Microsoft, reporting a third-quarter net profit of 747 million euros ($950 million), from a loss of 91 million euros a year earlier. ...

Yahoo CEO defends strategy in face of criticism

17 minutes ago

Signaling her reign has reached a pivotal juncture, Yahoo CEO Marissa Mayer is trying to convince restless shareholders that the long-struggling Internet company is heading in the right direction.

Sk Hynix logs all-time high Q3 earnings

33 minutes ago

SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.

User comments : 0