BlackBerry said that it has formed a special committee to “explore strategic alternatives to enhance value and increase scale in order to accelerate BlackBerry 10 deployment”.

In a statement, the troubled smartphone maker said that this could include “possible joint ventures, strategic partnerships or alliances, a sale of the Company or other possible transactions”.

Timothy Dattels, who is chairing the group, said: “Given the importance and strength of our technology, and the evolving industry and competitive landscape, we believe that now is the right time to explore strategic alternatives.”

Following the launch of its first BlackBerry 10 devices earlier this year, the company has struggled to generate significant traction in the market in the face of fierce competition not only from the established leaders of Android and iOS, but also fellow smartphone pioneer Nokia with Microsoft’s Windows Phone.

This is not the first time that BlackBerry has announced a strategic review, although on the last occasion the company did not announce any significant changes as a result.

Thorsten Heins, the company’s president and CEO, said: “As the Special Committee focuses on exploring alternatives, we will be continuing with our strategy of reducing cost, driving efficiency and accelerating the deployment of BES 10, as well as driving adoption of BlackBerry 10 smartphones, launching the multi-platform BBM social messaging service, and pursuing mobile computing opportunities by leveraging the secure and reliable BlackBerry Global Data Network.”

BlackBerry board member Prem Watsa, who is chairman and CEO of Fairfax Financial, has resigned due to “potential conflicts” which may arise during the process – Fairfax is the largest BlackBerry shareholder.