Fairfax Scooping Up Another $250 Million in BlackBerry
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Jan 8, 2014, 3:38 PM by Eric M. Zeman
BlackBerry today indicated that Fairfax Financial Holdings will purchase another $250 million in debentures from BlackBerry, which should help improve its cash position. Fairfax already owns a 14% stake in BlackBerry and late last year bought $250 million in debt financing. Today's investment boosts its share of BlackBerry debentures to $500 million. BlackBerry took on the investment late last year after failing to sell itself to private investors. The company has struggled to sell smartphones in the face of fierce competition from rivals such as Apple and Samsung.
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Granted, BlackBerry has the indispensable portrait QWERTY design, but world is largely moving on. And yes, BlackBerry still has an edge over the competition when it comes to mobile device security, but this is not something that sells nearly as well in the consumer market as it does in the enterprise market. Sure, BlackBerry could still make a decent comeback in emerging markets, but I doubt they'll make a comeback in the US after the launch of their lead balloon otherwise known as BlackBerry 10. The iPhone has already taken the token proprietary UNIX-based mobile OS slot, which causes QNX UNIX-based BB10 to look a bit redundant.
I don't think this will end well, but that's just me, and I don't claim to be...