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A former co-CEO of BlackBerry, Jim Balsillie, he had sold his entire stake in the smartphone manufacturing firm, according to a US securities filing.
Balsillie, who stepped down last year, sold over 26 million shares or roughly a 5 per cent stake - as of December 31, 2012.
The news comes after BlackBerry last month launched two new devices, the Q10 and Z10, in a bid to revive its sagging fortunes and regain lost market share from Apple and other smartphone makers such as Samsung, the Age reports.
Balsillie joined the company in 1992 and helped its rise to prominence, the report said.
Meanwhile, current BlackBerry chief executive Thorsten Heins told Fairfax Media this week the company would consider licensing its new operating system, BlackBerry 10, to other phone manufacturers in an attempt to claw back market share. (ANI)