BlackBerry has formed a special committee which could eventually see the firm sold off.
The smartphone and tablet maker announced this afternoon that its directors have formed the group to "explore strategic alternatives" for the future.
The options on the table are strategic partnerships or alliances, a sale of the business or "other possible transactions", it claimed in a statement.
Thorsten Heins, BlackBerry's chief executive, said that while the firm is considering its long-term plan, it is still focusing on its upcoming BlackBerry 10 OS.
"We continue to see compelling long-term opportunities for BlackBerry 10, we have exceptional technology that customers are embracing, we have a strong balance sheet and we are pleased with the progress that has been made in our transition," he said.
"As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10 [BlackBerry Enterprise Service 10], as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network."
Today's announcement will see Prem Watsa, chairman of Blackberry's biggest shareholder Fairfax Financial, stand down from his role to avoid conflicts of interest.
BlackBerry said it cannot be sure that the "exploration process" will result in any transaction at all, and that it does not intend to give any more updates until a deal has been struck or the review comes to an end.
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