Canadian telecom and smartphone maker company Blackberry Ltd said it's interested in partnering with Chinese companies to expand its market reach in China.

Blackberry's CEO John Chen said on Monday at the Asia-Pacific Economic Cooperation Summit held in Beijing that Blackberry's capabilities in security and encryption attracts the Chinese market.

Like Us on Facebook

Chen said there are opportunities waiting in China for the Canadian company to grab. During the summit, he also said he met with two of China's largest tech companies, Xiaomi, Inc. and Lenovo Group Ltd.

"It does seem that a more efficient way is to have a good partner to be here, I'm here this time to look at what opportunities there may be." said Chen.

"We have not really focused on this market. It's a huge market but it's a very highly competitive market too."

The Canadian company's move comes after recent decline of its phone shipments that resulted in net losses.

Chen emphasized the company doesn't intend to sell itself in the wake of its losses.

"I'm not looking to sell the company, I'm very much looking to operate the company as an independent company."

"What I'm doing is to explore what is the right approach to the market given what we do well and I'm not shutting any doors," he said.

"This market is not an easy one to get deals done quickly. It's going to take a while, but I'm interested."

TagsBlackberry, Asia-Pacific Economic Cooperation, Summit, John Chen, CEO