RIM is looking to sell cloud services division NewBay along with several other recently-acquired minor assets as part of its strategic review, according to a Reuters source.

RIM bought NewBay in October 2011 for a reported US$100 million as it looked to diversify into new areas in an attempt to reverse its recent decline. The Ireland-based division provides photo, video and social-networking tools for smartphones and had more than 80 million subscribers when it was acquired by RIM.

CEO Thorsten Heins replaced co-chief executives Mike Lazaridis and Jim Balsillie earlier this year and started a strategic review focusing on delivering a new range of devices running the next-generation BlackBerry 10 operating system by the first quarter of 2013.

RIM has struggled as its aging BlackBerry smartphones have failed to compete with the likes of Apple’s iPhone and numerous devices running Android. RIM’s share price has fallen by more than 60 percent in the past year while the company has continued to lose market share.

Computing giant IBM was recently linked with acquiring RIM, attracted by the Canadian company’s enterprise products.