Skadden Arps Slate Meagher & Flom and Canadian firm Torys are advising smartphone maker BlackBerry as it kicks off a strategic review that could result in the sale of the company.

The Canadian telecoms giant has announced that it is forming a committee to consider options for a new business model, with options in the table including a sale, as well as joint ventures, strategic partnerships or alliances.

The committee will be chaired by board member and TPG Capital senior partner Timothy Dattels, who said the company believes "now is the right time to explore strategic alternatives".

Canada's Torys is advising the committee alongside US firm Skadden and financial adviser JP Morgan. The firms could not be reached for comment.

BlackBerry – which earlier this year rebranded from its former identity of Research in Motion (RIM) – has faced challenges in recent years due to the rapid rise of mobile competitors such as Apple's iPhone.

In 2011, millions of BlackBerry users were left without email, web browsing and messaging capabilities due to server problems at RIM's Slough data centre, with DLA Piper Americas chief information officer Don Jaycox subsequently stating that the shutdown had brought a switch from BlackBerrys to iPhones and Android devices "to the front burner".

However, Clifford Chance earlier this year bought 1,600 new BlackBerry devices for its staff, marking a key win for the tech company. DWF chief technology officer Richard Hodkinson also recently spoke up for BlackBerrys, describing Apple's iPhone devices as more about "fashion rather than functionality".

Torys, one of Canada's leading 'seven sisters' law firms, is also a longstanding Blackberry customer and earlier this year rolled out BlackBerry 10 smartphones across the firm.