Delay the launch of the Blackberry RIM 10

RIM is trying to catch their opponents on the smart phone market.

Blackberry manufacturer Research in Motion (RIM) said they would delay the launch of the new phone operating system, Blackberry 10 and will cut 5,000 jobs.

Confirmation of the efficiency,which was submitted by RIM last month, amid reports thatthe company had lost $ 518 million over the next three months.

Last year RIM reaps profits $ 695 in the same period.

Analysts said the figure was much worse than expected and Blackberry 10 may be anadditional delay bad news for RIM.

Revenue in the first quarter fell 43% to $ 2.8 billion and sales of Blackberry smart phones dropped sharply in the second quarter.

Not satisfied

RIM is struggling to catch their opponents on the smartphone market, such as the Apple iPhone and mobile phones that use Google's Android operating system. They also tried to stick the nail in the tablet market.

Canadian companies were trying to achieve success with Blackberry 10.

The first phone with Blackberry 10 on the market is expected out later this year, but postponed until thefirst quarter of 2013.

"Our first quarter results reflect the challenges that I have underlined the market since my appointment as CEO in late January," said Thorsten Heins RIM boss.

I am not satisfied with this outcome and will continue to work aggressively with all areas of the organization andthe board to implement the changes mean for the challenge, including the realignment of human resources and focus areas in a company that has the greatest opportunity.

"Our top priority is forward with the launch of the Blackberry 10, which we anticipate will occur in the first quarter of calendar 2013."

Brutal

RIM shares fell 70% over the past year.

After the release of first quarter results, their stock plummeted 18% to $ 7.47 in trading on the New York continued.

RIM also said they predicted an operating loss in this quarter.

"These results are very brutal, and the situation appeared to worsen before itgets better with BB10 delay,"said Eric Jackson, investment manager at Ironfire Capital in Toronto.

"The company was losing money. Earlier in the length oftime they can say the company made solid gains. Andnow they start losing money and will continue for several quarters.

"And there is no guarantee that once they launch BB10 that the system is desired byconsumers."

He also predicted that the company will cut more jobs in the future.