(CNN) — Blackberry announced it's abandoning its plan to sell the company. It's getting an investment of one billion dollars from majority shareholder Fairfax Financial.
The Canadian smartphone company also said that Thorsten Heins is stepping down as Chief Executive Officer.
John S. Chen, former CEO of Sybase and Siemens, will serve as interim CEO.
The struggling company recently appealed in an open letter to its customers to stay loyal.