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BlackBerry won't sell itself; CEO is out

BlackBerry President and Chief Executive Officer Thorsten Heins speaks at the BlackBerry 10 launch event at Pier 36 in Manhattan on January 30, 2013 in New York City. 

In the age of Android and iPhone dominance, not too many people are interested in buying a BlackBerry anymore. The same could be said for the Canadian company that manufactures the device. On Monday, the smart phone maker announced it would abandon a bid to be taken over by a private group of investors, and that CEO Thorsten Heins will step down. Fairfax Financial Holdings, BlackBerry's largest shareholder, and a group of private investors will give the company a $1 billion cash influx to reorganize. Marketplace Reporter Sabri Ben-Achour has the latest on the news.

About the author

Sabri Ben-Achour is a reporter for Marketplace, based in the New York City bureau. He covers Wall Street, finance, and anything New York and money related.

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