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This Expert Thinks BlackBerry Ltd (BBRY) Is Done

In the most likely scenario, BlackBerry Ltd (NASDAQ:BBRY) is “toast,” Business Insider editor-in-chief & CEO Henry Blodget said in a discussion on CNBC.

This is not the first time a technology industry observer has used strong words against BlackBerry Ltd (NASDAQ:BBRY). Just recently, investor Gary Vaynerchuk said something to the same effect as it’s only a matter of time before the world sees the end of BlackBerry.

“There is probably a niche they can grab but the most likely scenario is they are toast and they have to be cognizant of that. […] Toast. Just done. Like Palm Pilot. That’s where they are going. That’s where their market position is,” Blodget said.

The comment about BlackBerry Ltd (NASDAQ:BBRY) comes after Samsung Electronics and the Canadian company were reportedly in talks for an acquisition. The rumored $7.5 billion bid was quickly disproved by both BlackBerry and Samsung Electronics.

BlackBerry, is BBRY a good stock to buy, Henry Blodget,

BlackBerry Ltd (NASDAQ:BBRY) CEO John Chen, who has said that he thinks he is not crazy for trying to lead the company out of its problems, has said in the past that he is not actively trying to solicit bids for his company and that it is very viable. He did admit, however, that if a bid comes along, he is obligated to study it.

It’s not all gloomy for BlackBerry though as Blodget himself presents a scenario where the company will survive. However, the caveat is that this will be the only way the smartphones maker will last, Blodget said, and it is implied that the company will be downsized a bit.

“BlackBerry [is] another tough position. [They] used to be mass market [and] used to own a huge chunk of it. They have to go niche now and they have to figure out a portion of the market that they can own. That is the only way they are going to survive. Otherwise they have to be taken out. The only question is price,” Blodget said.

Other industry observers like Peter Misek still see positives for BlackBerry. Misek has said value lies in BlackBerry’s security and software sales. Paul Kedrosky has noted that BlackBerry may win with its QNX platform as the Internet of Things flourishes.

Irving Kahn’s Kahn Brothers held about 1.56 million BlackBerry Ltd (NASDAQ:BBRY) shares by the end of the third quarter of last year.

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