BlackBerry Ltd. (TSX:BB)(Nasdaq:BBRY) is undeniably one of Canada’s most polarizing stocks.

Supporters of the company point to its renewed focus on software and its stronger balance sheet. They note how far the company has come under new CEO John Chen, even while the stock price is back where it started.

Detractors have a point too. They point to the declining handset sales and service revenue. Even worse, the mobile device management (MDM) market has become far more competitive in the last year. Profitability remains practically nonexistent. And if that wasn’t bad enough, BlackBerry’s brand seems to be holding back the company.

The fact is, it’s impossible to know how successful Mr. Chen’s efforts will be. We also have no idea which way BlackBerry’s stock price will go. But here’s one thing we can be pretty sure of: Samsung offered US$7.5 billion for BlackBerry back in January. In Canadian dollar terms, that works out to $19 per share.

According to a report by Reuters, BlackBerry rejected the offer, claiming it grossly undervalued the company. But it may be time to revisit the idea. Below we take a closer look.

Why BlackBerry is better off in someone else’s hands

As we all know by now, BlackBerry is shifting its focus from handsets to software. Unfortunately the company’s sagging handset business seems to be holding back software sales. The reason is simple: enterprise customers are reluctant to buy software from a company they see as in decline. Put simply, BlackBerry’s battered brand is hurting software sales.

Mr. Chen seemed to acknowledge this in May while speaking in Kitchener, Ontario. As he put it, “Not long ago, the company was in deep deep trouble. We are now out of trouble in terms of financial, but we haven’t established a growth… until that happens nobody will go willingly buy our products.”

If BlackBerry were in another company’s hands, such as Samsung, it would no longer suffer from that problem.

Samsung is still a great candidate

Samsung is especially suitable for BlackBerry. The company has struggled to gain traction in the enterprise market, which is of course BlackBerry’s bread and butter. Better yet, Samsung could make great use of BlackBerry’s 44,000 patents as it fights Apple in the courts.

In any case, it’s hard to imagine BlackBerry being worth more than what Samsung was willing to pay.

Don’t hold your breath

Even though an acquisition makes perfect sense, don’t expect it to happen anytime soon. Mr. Chen and the rest of BlackBerry’s board are determined to continue the turnaround effort for the time being, and probably won’t give up for quite some time.

But eventually, BlackBerry will likely have to be sold, whether the turnaround is successful or not. This is worth keeping an eye on.

BlackBerry is still a roll of the dice. This is a better option.

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Fool contributor Benjamin Sinclair has no position in any stocks mentioned. David Gardner owns shares of Apple. The Motley Fool owns shares of Apple.