BlackBerry manufacturer RIM may split business in two

The struggling BlackBerry manufacturer RIM may be gearing up to split its business into two parts, dividing its mobile phone arm from its messaging arm, according to the Sunday Times.

RIM is considering spinning off its handset division into a lone-standing listed company or perhaps selling it, the newspaper reported. Amazon or Facebook could be potential buyers in this scenario.

The company may also sell its messaging network, or make it available to the likes of rivals Apple and Google for new revenue streams.

A third option would be to keep the company intact but sell a stake to a larger technology company.

The company recently announced a restructuring plan that would shed employees in an effort to save $1 billion (£640 million) by the end of its 2013 fiscal year. The announcement came after RIM shares hit their lowest point since 2003, dropping to under $10 (£6.40) after the company projected an operating loss for the quarter.

In May the company hired JP Morgan and RBC Capital to consult on possible "strategic business model alternatives" that could help it turn around its lagging fortunes.

Earlier in June, contract manufacturer Celestica announced plans to "wind down" its relationship with RIM, ceasing its manufacturing services for the company over the next few months as RIM reduces its supply base.