NEW YORK (CNNMoney)
BlackBerry's (BBRY) directors have formed a special committee "to explore strategic alternatives to enhance value and increase scale" in order to boost sales of its BlackBerry 10 smartphone.
"These alternatives could include, among others, possible joint ventures, strategic partnerships or alliances, a sale of the company or other possible transactions," said the Canadian company.
Blackberry stock plunged about 30% in late June, after the company announced disappointing sales and a loss for the quarter ending June 1. The crux of the problem is its Blackberry 10, newly released in January. The all-touchscreen Z10 was intended to be the catalyst for the company's turnaround, but has failed to impress consumers.
The company said it shipped out 2.7 million Blackberry 10 smartphones during the previous quarter. That was one million less than expected. The company also reported loss of 13 cents per share, while Wall Street was expecting a profit.
Related: Blackberry 10 is not a hit
BlackBerry also said that Prem Watsa, the company's largest shareholder and the chief executive of Fairfax Financial, is resigning from the board of directors, but he won't unwind his investments in the company.
BlackBerry was once a dominant player in the smartphone market, but it has struggled recently against competitors Apple (AAPL, Fortune 500) , Samsung, Google (GOOG, Fortune 500) and Microsoft (MSFT, Fortune 500).
First Published: August 12, 2013: 8:28 AM ET
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