BlackBerry Calls Sale Off

now what?

Updated Apr. 17, 2017 5:44PM EDT / Published Nov. 04, 2013 9:36PM EST

Joe Raedle/Getty

Does this mean a longer wait for Facebook phones? On Monday, BlackBerry announced it was abandoning plans to sell the company and that CEO Thorsten Heins was stepping down to be replaced in the interim by John Chen. Prospective buyers initially included the likes of Facebook, and a tentative offer from stakeholder Fairfax Financial Holdings for $4.7 billion didn't pull through. Monday's changes sparked a 16 percent dive in stock share prices, but the new leadership is still optimistic. Chen, who comes from software company Sybase, has pledged to rebuild the company and turn it around in six quarters. "I know we have enough ingredients to build a long-term sustainable business," he said.

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BlackBerry Calls Sale Off

Joe Raedle/Getty