BlackBerry tells investors and customers they should not panic

Tim Wallace
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TROUBLED mobile phone maker BlackBerry yesterday published an open letter to stakeholders to assure them the company is stable.

BlackBerry is considering selling itself after its latest smartphone models failed to turn around its fortunes. Weak profits led the group to announce another 4,500 job losses last month, and shares in the company are down almost 50 per cent from recent highs of C$16.50 in May.

One option on the table is a $4.7bn (£2.9bn) takeover by Fairfax Financial, though other technology firms and investors are also thought to be interested in parts of the business.

But its bosses maintain the company has a long-term future in the market.

“These are no doubt challenging times for us and we don’t underestimate the situation or ignore the challenges. We are making the difficult changes necessary to strengthen BlackBerry,” it said. “You can continue to count on BlackBerry.”

Its shares fell 1.65 per cent yesterday.