Home / Samsung made $7.5bn bid for BlackBerry: report

Samsung made $7.5bn bid for BlackBerry: report

Insider claims South Korean firm eyeing prized patents

Samsung made $7.5bn bid for BlackBerry: report

South Korea's Samsung Electronics recently approached Canadian smartphone vendor BlackBerry in an attempted acquisition, Reuters reported.

Samsung reportedly offered as much as $7.5bn for the Waterloo, Ontario-based company, which has seen modest recovery under CEO John Chen by focusing on services and enterprise business.

Samsung's lead in global smartphone shipments has eroded in the past year, coming under threat from cheap Chinese vendors in the budget segment and larger handsets from Apple in the premium space. Apple has also declared its intent to more aggressively pursue enterprise business by partnering with IBM on mobile apps.

Reuters cited an unnamed insider who claimed Samsung executives met with BlackBerry representatives last week and that the Korean firm was targeting BlackBerry's patents. Shares in the Canadian firm rose as much as 30% following initial reports and then normalised, dropping 15%.

According to Canadian media reports, BlackBerry has spurned a number of buyout advances in recent months, as CEO Chen's dialling-down of the handset business has begun to show results.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.