Blackberry, one-time "owner" of the mobile communications market, today announced a special committee of the board to explore strategic options following a lackluster reception for its Blackberry 10 smartphone, which it pitched as a game-changer.

Timothy Dattels, senior partner of TPG Capital, chairs the group, which includes Blackberry CEO Thorstein Heins.

Following the January launch of the Blackberry 10, Heins predicted the sale of "tens of millions" units.

During the first-quarter ended June, Blackberry sold 2.7M of the new models. The company recorded $84M red ink on $3.1B revenues in that period.

The special committee will mull joint ventures, partnerships or the sale of the company.

Heins, who took the helm in 2012 after leaving Siemens, maintains the Blackberry 10 has "compelling long-term opportunities."

Blackberry is now No. 4 in the smartphone derby, falling behind Windows-run devices.

Samsung, with Google's Android operating system, and Apple are the leaders.