BlackBerry up for sale

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August 13, 2013, 7:37 pm
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(NECN) - Tuesday saw big moments for two companies known for their phones.

The investor Carl Icahn bought a $1 billion stake in Apple, and BlackBerry has put itself up for sale.

So what do the moves mean for these companies?

"It's not a surprise, because actually a year ago, they talked about a strategic plan that didn't mention outright that they were going to put a for sale sign on the company, but this time around, they've been very specific," Ned Riley of Ned Riley Asset Management says about BlackBerry.

Dan Rowinski, editor of ReadWrite.com, says BlackBerry hasn't been able to make any ground with the competition.

"Well, BlackBerry released two new phones in January, the BlackBerry Z10 and the BlackBerry Q10, and those just really haven't struck with consumers. It's really hard for BlackBerry right now because they're battling in a world with Apple taking up, you know, 40-50 percent of the U.S. market share and 13 percent worldwide, and then Samsung and all the Android manufacturers that take up the remaining Androids at 80 percent of world market share. Companies like BlackBerry and Nokia are really having a hard time trying to break into this market," he says.

Watch the attached video for more.

Tags: Apple, Ned Riley, Blackberry, Carl Icahn, Dan Rowinski
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