Morgan Stanley holds new BlackBerry purchases
In an announcement, Morgan Stanley is putting on hold the planned upgrade of its employees' devices to the newest smartphone of BlackBerry, the BlackBerry 10. The reason for such a decision stems from concerns that the smartphone firm from Canada would not support the platform for the long term. This was confirmed by two individuals with direct knowledge of the plans of the bank.
As part of its operational planning, Morgan Stanley would have a firm timeline for an upgrade at this time, five months after the first introduction of the latest model from Blackberry. The choice of retaining the use of earlier BlackBerry models, such as the BlackBerry 7 introduced back in 2011, was based on the lack of assurance of technical support for the new devices in light of the strategic changes that the smartphone company is currently undergoing.
Earlier this month, a special committee was formed by the BlackBerry Board of Directors to explore the possible sale of the company as well as review possible partnerships. This was brought about by the three year sales decline of the company's flagship devices, resulting an overall drop of the company's market value by 90% of its original worth.