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Home / News / Samsung reportedly trying to buy BlackBerry for $7.5 billion

Samsung reportedly trying to buy BlackBerry for $7.5 billion

UPDATE: Both parties deny the impending acquisition, but source remains steadfast

UPDATE: Samsung has denied the reported move, telling Reuters, “Media reports of the acquisition are groundless.” And BlackBerry has done quite the same, denying the original report.

However, Reuters affirms that it spoke to someone familiar with the process and has seen documents pertaining to it, so just because the companies have nothing to confirm today doesn’t mean it was all pulled out of thin air. Stay tuned.

ORIGINAL STORY: BlackBerry might have slowed its recent stumbles by turning to what worked in the past, but it remains a company in decline. Still, according to a new report, Samsung is eyeing the company for purchase.

Reuters says that Samsung is attempting a takeover of BlackBerry, and the two companies held discussions last week with external advisors. Samsung is reportedly prepared to spend as much as US$7.5 billion (just shy of £5 billion) to pick up the weakened BlackBerry.

Considering the current status of both companies in the modern smartphone landscape, even with Samsung’s slowing sales of late and plans to scale back its lineup, why would the Korean gadget giant want to add BlackBerry to its portfolio?

It’s all in the patents, says Reuters. BlackBerry has amassed an enviable collection of tech patents over the years, and the time may be right to strike on a purchase while the company is still figuring out a road ahead. As such, it’s unclear whether a possible acquisition would result in the end of BlackBerry-branded devices, not to mention the demise of its iconic keyboard-packing devices.

We’d guess that as long as there’s a market for such devices and enterprise services, Samsung will want to tap it, and it’s probably easier for a company with the scale of Samsung’s to release an extra phone or two than for an entire company like BlackBerry to exist on its own just to support niche devices.

For now, there’s no official word from either party, but the speculation has sent BlackBerry’s stock up more than 29% at the end of the day, generating its best trading price since June 2013.

[Sources: Reuters via The Verge, CNET]

READ MORE: BlackBerry Classic launches in States with UK shipments starting in mid-January

Profile image of Andrew Hayward Andrew Hayward Freelance Writer


Andrew writes features, news stories, reviews, and other pieces, often when the UK home team is off-duty or asleep. I'm based in Chicago with my lovely wife, amazing son, and silly cats, and my writing about games, gadgets, esports, apps, and plenty more has appeared in more than 75 publications since 2006.

Areas of expertise

Video games, gadgets, apps, smart home