Home
Mobiles
Mobiles News
Jim Balsillie sells his entire stake in BlackBerry

Jim Balsillie sells his entire stake in BlackBerry

By Agence France-Presse | Updated: 15 February 2013 09:54 IST

Click Here to Add Gadgets360 As A Trusted Source

Jim Balsillie, the former co-CEO and a driving force behind BlackBerry, no longer owns shares in the Canadian smartphone maker, according to a US securities filing Thursday.

Balsillie, who stepped down last year, said he had sold his entire stake in the company more than 26 million shares or roughly a five-percent stake as of December 31, 2012.

The news comes after BlackBerry last month launched two glitzy new devices, the Q10 and Z10, in a bid to revive its sagging fortunes and regain lost market share from Apple and other smartphone makers such as Samsung.

Blackberry Discussion

Explore More...

Balsillie joined the company in 1992 and helped its rise to prominence.

While BlackBerry helped create a culture of mobile users who were glued to the company's smartphones dubbed "crackberry addicts" many of those customers have since moved to Apple or Android-based phones.

BlackBerry shares rose 2.43 percent to Can$14.29 in morning trading in Toronto.

BlackBerry 10 Launch: In pictures

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.