Research in Motion (RIM) may be considering separating its problematic handset manufacturing division from its messaging network, British nespaper The Sunday Times reported today. The paper did not cite any sources, adding that RIM may later even sell its struggling handset division as a new company, with potential buyers to include Amazon and Facebook. The company's messaging and data network (including BBM and BIS) could also be sold or lienced to rivals such as Apple and Google, the paper said.

Another option would be to sell a large stake to a corporation like Microsoft.

The Waterloo-based company has been working with RBC and JP Morgan since earlier this year to conduct a strategic review.

RIM is hoping for a business turnaround with the release of its BlackBerry 10 software later this year.

RIM CEO Thorsten Heins had previously said the company didn's want to be bought out, and that it was exploring "opportunities to leverage the BlackBerry platform through partnerships, licensing opportunities and strategic business model alternatives."

The Canadian company hasn't provided any guidance for its Q1 earnings but the CEO has said that it was going through a significant transformation as the company move towards the BlackBerry 10 launch, and its financial performance would continue to be challenging. Meanwhile, last month reports unveiled RIM' splans to axe at least 2,000 employees - 12 percent of its entire workforce, as part of its turnaround strategy.