The new chief executive of Research In Motion, the maker of Blackberry smartphones, signalled that he might sell the company after it posted another catastrophic set of sales figures and plunged into the red.
Revenues over the past three months, including the Christmas period when rival Apple sold millions of iPhones and iPads, were down 25%.
The company - a pioneer in smartphones, particularly for business executives - announced a boardroom clear-out and a top-to-bottom review of its strategy, in an attempt to revive its fortunes.
Consumers have switched to trendier phones from Apple and other handset makers. Firms that used to provide Blackberries for employees are increasingly letting them use their own phones.
Thorsten Heins admitted that the company's problems went deep: "The impression I had on Day 2 of being chief executive was pretty different from the facts I know after being 10 weeks as chief executive," he said.
The strategy review would examine cost-cutting measures, partnerships and licensing deals, and even a sale of the company if a potential buyer came forward, he said.