The Wall Street Journal is reporting that Lenovo has now potentially joined the fray in BlackBerry's (NASDAQ:BBRY) ongoing auction process. That would be in addition to the current $9 per-share offer from Fairfax Financial that's on the table, and previous reports also suggested that BlackBerry co-founder Mike Lazaridis was contemplating a bid. Yet, with at least three bids potentially on the table, BlackBerry is still trading at a significant discount to $9. Clearly there's some skepticism around each deal.

The Fairfax offer is highly contingent upon third-party financing, and lenders have their own due diligence process. Lazaridis is partially responsible for BlackBerry's current predicament, because his days as co-CEO did not treat the Canadian company well. Lenovo, meanwhile, could raise regulatory concerns as it is a Chinese company. Regulators may have national security concerns, as they did when they banned Chinese networking gear maker Huawei from the U.S.

In this segment of Tech Teardown, Erin Kennedy discusses BlackBerry's attempt to sell itself with Jamal Carnette and Evan Niu, CFA.

Erin Kennedy has no position in any stocks mentioned. Evan Niu, CFA, has no position in any stocks mentioned. Jamal Carnette has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.