Blackberry said it had created a committee that would look into strategic alternatives that would enable the smartphone maker to revive its sales. Such alternatives included possible partnerships, joint ventures or even the sale of the Canadian phone maker. Sources told Reuters that Chief Executive Officer Thorsten Heins and the members of the board were finally warming up to the idea of going private. The source said that privatization would allow the company to turn its fortunes around without being constantly scrutinized by analysts and shareholders.

Once valued at USD 84 billion, the stock price of the company once known as Research in Motion, had dropped considerably. It had difficulty competing with Apple and other market players that used the Android operating system. Last week, news of the privatization was apparently welcomed by Blackberry's investors. On the Toronto Stock Exchange, the stock gained 54 cents and closed at USD 10.05 last Friday, while in the New York Stock Exchange, the stock closed at USD 9.76, gaining 53 cents.