RIM in Bank Discussions: Report

WATERLOO, Ontario (TheStreet) -- Research in Motion(RIMM) is in discussions with a financial adviser to help the troubled handset maker weigh its strategic options, according to a Bloomberg report.

Citing three people with knowledge of the matter, Bloomberg reports that Research in Motion is considering hiring one Canadian bank and one global bank.

RIM declined to comment on this story when contacted by TheStreet, although CEO Thorsten Heins would not rule out a potential sale during the BlackBerry maker's recent fourth-quarter conference call.

The embattled Canadian firm reported weaker-than-expected fourth-quarter numbers with Heins acknowledging that RIM needs "substantial change."

Rocked by delayed product launches, and fierce competition from Apple(AAPL) , Google's(GOOG) Android phones, and, increasingly, Microsoft's(MSFT) Windows phones, investors have fled RIM in droves.

RIM's shares, which have plunged almost 75% over the last 12 months, closed up 4.11% at $13.42 on Monday.

--Written by James Rogers in New York.

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