RIM Is Said To Discuss Hiring Bank To Weigh Strategy Options

Posted: 04/16/2012 7:24 pm Updated: 04/16/2012 11:04 pm

Research In Motion

TORONTO - A report out of New York says Research In Motion Ltd. (TSX:RIM) is seeking to hire a financial adviser to help the troubled BlackBerry-maker weigh its strategic options.

Bloomberg News quotes sources as saying a decision to work with at least one bank could come in the next few days.

Bloomberg reports one source as saying RIM doesn't plan to sell itself off.

The source told Bloomberg that the Waterloo, Ont.-based company is seeking an agreement to license its mobile phone software.

The sources told Bloomberg that RIM's willingness to seek help from external advisers suggests a new openness to a takeover or a strategic investment.

RIM shares have taken a beating on the stock market as the company lost market share to Apple's iPhone and devices using Google's Android operating system.

Related on HuffPost:

Blackberry PlayBook Flops, Prices Slashed
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The PlayBook tablet, which was the BlackBerry maker's answer to the iPad, went on sale in April 2011. Since then, RIM has lost $485 million on unsold units.

At the beginning of January, RIM slashed the price of all models of its tablet to $299. The special pricing will last until February 4.

PlayBooks, which come in 16, 32 and 64 gigabyte models, typically retail for $499, $599 and $699, respectively, according to CNET.

In November, RIM temporarily slashed the price of the 16GB version of the tablet to $199 at certain retail locations.
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Filed by Christian Cotroneo  |