BlackBerry found quite a way to wrap up 2013. First, the company put itself up for sale as it realized there was probably no other way out of the hole its founders had dug. Then, it changed its mind. CEO Thorsten Heins was ousted and the company decided it would right the ship on its own — though it really hasn’t given the world any indication of how it plans to accomplish this incredibly daunting task. Industry watchers have churned out a regular flow of doom and gloom since then and the company’s share price is down about 50% on the year after rocketing from the $11 range to nearly $18 back in January. But in the latest analyst note packed with negativity, there may actually be some bittersweet news buried in there for BlackBerry fans who have been on edge lately, wondering whether or not the brand they love will still be making smartphones a year or two from now.
While many have suggested that BlackBerry should kill its struggling handset business and focus on enterprise solutions, BBM and other areas, Citigroup analyst Ehud Gelblum thinks it’s way too late and that ship has sailed. At this point, BlackBerry’s smartphone business would be too expensive to kill. More →