According to a source (via Reuters), Samsung Electronics Co Ltd. has approached BlackBerry Ltd. with a potential buyout of $7.5 billion for its patent portfolio. When you think about it, it makes a lot of sense for Samsung to just take out a still relevant player in the smartphone industry, especially one that possesses a lot of intellectual property.
BlackBerry once dominated the smartphone market as we all now, but failed to stay relevant and lost its majority market share years ago. Even in its most recent attempts to regain its popularity with its business crowd by unveiling its BlackBerry Passport in the third quarter of 2014, revenue at Blackberry fell to $793 million from $1.19 billion the previous year. It’s still a company that seems out of its depth in engaging Millennials (or Gen Y’ers) and older consumers who own Samsung and Apple devices.
The real question here, is what the heck am I going to do with my old BlackBerry device when this deal goes through?! For now while there’s still no official word from BlackBerry Ltd, I’ll savour the moment.