Blackberry says it will sell Canadian real estate

Jan 21, 2014 by The Associated Press

Blackberry plans to sell most of its Canadian real estate holdings as it works to shore up its business under new management.

The troubled smartphone maker says it plans to sell most of its commercial real estate holdings through sale-leaseback and vacant asset sales. But it says it remains committed to Waterloo, Ontario, as its headquarters.

BlackBerry pioneered the smartphone in 1999 and dominated for years but since the late 2000s the has been hammered by competition from the iPhone as well as Android-based rivals.

Under new CEO John Chen, BlackBerry has been working to turn around its . Last month, the company entered into a five-year partnership with a Taiwanese company in an agreement that will offload much of BlackBerry's manufacturing costs.

Explore further: Fairfax ups investment in troubled BlackBerry

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

Related Stories

Fairfax ups investment in troubled BlackBerry

Jan 08, 2014

Fairfax Financial Holdings is buying another $250 million of convertible debt in troubled Blackberry in what Fairfax's president says is a sign of confidence in the company's new management.

BlackBerry, Facebook 'met over potential bid'

Oct 30, 2013

BlackBerry executives met with their counterparts at Facebook last week over a potential bid for the struggling Canadian phone-maker, The Wall Street Journal reported Wednesday.

Recommended for you

Out-of-patience investors sell off Amazon

Oct 24, 2014

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand ...

States ascend into the cloud

Oct 24, 2014

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

Oct 24, 2014

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

Oct 24, 2014

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

User comments : 0