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: Underfire Uber ramps up rider safety

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

Underfire Uber ramps up rider safety

7 hours ago

Uber is ramping up driver background checks and other security measures worldwide after the smartphone-focused car-sharing service was banned in New Delhi following the alleged rape of a passenger.

Sony cancels NKorea parody film release after threats

8 hours ago

Hollywood studio Sony Pictures on Wednesday abruptly canceled the December 25 release date of "The Interview," a parody film which has angered North Korea and triggered chilling threats from hackers.

Sprint accused of billing for unwanted services

12 hours ago

(AP)—Federal regulators are accusing Sprint Corp. of illegally billing its wireless customers hundreds of millions of dollars in charges for text message alerts and other services that they didn't order.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.