The Canadian based company BlackBerry BBRY +0.50% (NASDAQ:BBRY), is creating an open letter to be published around the world as an effort to reassure their customers that they are able to count on the smartphone company, despite their current state of distress.
This letter, which is 660 words, is set to be published in over 30 daily newspapers, which include some editions of the Financial Times in over nine countries. The letter was originally released on Monday through Twitter. In the letter the company has acknowledged the fact that while these are challenging times, and they are not underestimating the situation, BlackBerry is still a brand that can be counted on.
It is thought that the reason that the letter is being published is due to the hit that the BlackBerry 10 devices have taken since the company made the announcement that they were under a strategic review that may wind up in a sale of part, or all, of the BlackBerry company.
While the note addresses the fact that the company is debt free and has a good amount of cash on hand, it does not mention the fact that the company is still for sale, or that it may be broken down and sold in a number of pieces.
The letter continues on to highlight a number of areas where the company states they have an advantage over their biggest competition, which includes their Qwerty keyboard devices, mobile management tools, the BBM messaging service and superior security. Additionally, BlackBerry pointed out that they already have six million customers that have pre-registered to begin using the BBM service on iPhone and Android devices when it finally becomes available.
Last month, BlackBerry made the announcement that Fairfax Financial Holdings, that currently holds 10 percent ownership in the company, had signed a letter of intent that they are contemplating purchasing BlackBerry for a price of $9 per share, which would equate to $4.7 billion. Fairfax is currently the largest shareholder of the company and searching for other investors for the deal.
Currently the stock of BlackBerry is trading substantially below the tentative offer from Fairfax, due to fears that the deal is not going to go through and that the final price that is paid will be significantly lower. On Monday, the U.S. traded shares of BlackBerry closed at $8.14.