RIM weighing plans to split hardware and messaging into two units: report
25 Jun 2012
Research in Motion (RIM), the iconic Canadian company that makes the BlackBerry mobile phone, is weighing splitting its business in two, separating its struggling handset manufacturing division from its messaging network, The Sunday Times yesterday reported, without saying where it sourced the information.
The Waterloo, Ontario-based company, which last month hired JP Morgan and RBC Capital to look at its strategic options, could break off its handset division into a separate listed company or sell it, said the London-based paper.
Responding to report, RIM said in a statement that JP Morgan and RBC are currently conducting strategic review'' of its business.
The paper said that potential buyers for its handset division would include Amazon and Facebook, while its messaging network could also be sold, or opened up to rivals such as Apple and Google.
Another option would be selling a stake in the company to a larger technology firm, like Microsoft, the report added.
RIM said in the statement that it continues to believe the best way to drive shareholder value was to execute its turnaround plan.
