BlackBerry’s Stock Jumps on Lenovo CEO's Deal Speculation

Tue, 03/12/2013 - 10:37am
Ben Munson

Shares of BlackBerry (formerly Research In Motion) jumped up close to $15 yesterday on news that Lenovo was pondering buying the Canadian OEM.

Bloomberg reports Lenovo’s CEO Yang Yuanqing, in conversation with French publication Les Echos, said a deal to buy BlackBerry could make sense but mentioned the need first to analyze the market and determine the importance of the company.

Lenovo CFO Wong Wai Ming told Bloomberg something similar in January. He said that his company was looking at all opportunities, including a possible purchase of BlackBerry. The news then came after numerous hints from BlackBerry CEO Thorsten Heins that his company was open to selling its hardware division.

The company in January officially announced its new BlackBerry 10 OS as well as two new handsets, the touchscreen Z10 and touchscreen plus QWERTY Q10. The Z10 this month will finally be available to consumers on both AT&T and T-Mobile.

As of 9:30 a.m. CT, BlackBerry’s stock is down more than 3 percent to $14.44.


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