BlackBerry co-founder trims stake after huge loss

Dec 25, 2013 by The Associated Press

BlackBerry co-founder Michael Lazaridis has trimmed his stake in the troubled smartphone pioneer to just below 5 percent after selling 3.5 million shares during the past two days.

The sales disclosed in a Tuesday regulatory filing came after BlackBerry Ltd. announced a third-quarter loss of $4.4 billion last week. The setback marked the latest sign of the company's deepening distress as BlackBerry's products fall further behind the iPhone and devices running on Android software.

Lazaridis previously owned a 5.7 percent stake in the Waterloo, Ontario company that he once ran.

Lazaridis and BlackBerry co-founder Douglas Fregin said they were mulling a bid to buy the company in October. But BlackBerry in November said it had abandoned a bid to sell itself.

Explore further: BlackBerry abandons bid to sell itself, CEO out (Update 2)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

BlackBerry co-founder 'in joint bid talks'

Sep 21, 2013

One of BlackBerry's co-founders has held talks with private equity firms about making a joint bid for the struggling Canadian smartphone maker, The Wall Street Journal reported Saturday.

Cerberus interested in BlackBerry

Oct 02, 2013

Private equity firm Cerberus is interested in taking a look at BlackBerry's books as a prelude to a possible bid for the troubled smartphone company.

Recommended for you

Sony's quarterly loss balloons on mobile woes

17 hours ago

Sony's losses ballooned to 136 billion yen ($1.2 billion) last quarter as the Japanese electronics and entertainment company's troubled mobile phone division reported huge red ink.

Will Apple Pay be mobile pay's kick-start?

Oct 30, 2014

If anyone can get us to use our smartphones as wallets, it's Apple. That's what experts think about the recent launch of Apple Pay, the first mobile wallet to work on an iPhone.

Google execs discuss regulation, innovation and bobble-heads

Oct 30, 2014

Eric Schmidt and Jonathan Rosenberg help run Google, one of the world's best-known, most successful - and most controversial - companies. They've just published a new book, "How Google Works," a guide to managing what they ...

LinkedIn reports 3Q loss but sales climb

Oct 30, 2014

LinkedIn Corp. posted a third-quarter loss on Thursday, but its results were better than expected as revenue grew sharply, sending shares of the online professional networking service higher in extended trading.

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.