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

Alibaba surges in Wall Street debut

11 hours ago

A buying frenzy sent Alibaba shares sharply higher Friday as the Chinese online giant made its historic Wall Street trading debut.

Alibaba makes Wall Street debut

15 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

18 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

21 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0