BlackBerry Ltd (BBRY)’s John Chen Pushes Back On Purported Samsung Bid of $7 Billion

BlackBerry Ltd (NASDAQ:BBRY) has laid to rest, recent news reports of a major offer by big smartphone maker, Samsung Electronics, the South Korea-based company, with multinational presence. According to news reports by Reuters, Samsung’s offer was $7 billion. However, Blackberry officials have now confirmed that there is no such development.

While investors in Blackberry shares may be disappointed, and may lead to further pressure on the board, it does appear that at the headquarters of ex-Research In Motion company, Waterloo, it has the full-support of the technology town.

In many ways, John Chen, the CEO at the helm of affairs at the recently rechristened BlackBerry Ltd (NASDAQ:BBRY) backs the township support with his stoic strategies, which apparently are marking minimal profits for the company, in the past quarter. Though the historic $9 billion market capital is a far cry from the current $3billion cash it holds, Blackberry does have several core strengths, which are expected to help eventually turnaround the company.

BlackBerry Ltd (NASDAQ:BBRY) continues to be a local-player which has amassed a global stature, thanks to its landmark security-feature, function-reach model. However, this was before the fashionable iPhones and Galaxy’s made their way and grabbed the stronghold of the practical-designed Blackberry’s.
As expert’s analyse it was the lack of vision to grade to touch-based interface that pushed down on the Blackberry‘s popularity in the past decade.

However, now Chen’s strategy to retain the retro-fit features on the latest models, appear to pay rich dividends.

While it is unsure, if or when BlackBerry Ltd (NASDAQ:BBRY) will sell to a strong player or continue to steam ahead on its core strengths, Passport and the Classic are redefining the future of the company, no thanks to Samsung’s and others’ bids! Blackberry has begun to hire incrementally again, even as past talent remain locally, with their own start-ups. It may well appear Blackberry has newer integrated functions, five years from now, thanks to ex-Blackberry teams!