Qualcomm Inc. to join Cerberus to possibly bid for BlackBerry

Qualcomm Inc. is reportedly said to be in talks to join private-equity Cerberus Capital Management LP, to possibly bid for the sinking smartphone manufacturer BlackBerry.

Sources close to the matter have revealed that Qualcomm is also contemplating to join BlackBerry co-founders Mike Lazaridis and Doug Fregin, who are considering a bid as part of an auction of the company, AllThingsD reports.

BlackBerry's market share is shrinking owing to a tough battle in the smartphone industry led by rivals like Apple and Samsung.

Fairfax Financial is said to be the major bidder, led by Prem Watsa, for acquiring the company which is expected to come to a head with a bid deadline Monday.