RIM to unveil seven new Blackberries

BlackBerry co-CEOs Jim Balsillie and Mike Lazaridis announced that seven new smart phones running a new operating system will be launched very soon in the market. BlackBerry has slipped from top position to the third in the US market after Apple's iPhone and Google Android devices.

Pulsing the Investor’s anger due to declining market share, shrinking revenue, profit warnings and delays in replacing the old handsets two co-CEOs of RIM Jim Balsillie and Mike Lazaridis has announced the plans for the future to calm the investors.

Mr. Mike Lazaridis admitted that RIM faced 'some challenges, and to recover the ground he announced that seven new BlackBerry smart phones running a new operating system will be unveiled shortly.

The situation got worsens for RIM as their stock has sunk more than 50 percent this year - floating at about $27 now.

Assuring investors Lazaridis said, "If there is anything that will make you sleep better at night that I can do, I will do it." Jim Balsillie said, "Mike and I, along with the executive team, are closely managing this transition and have positioned the company for continued future success.''

The market buzz is that big player like Apple or Microsoft could buy out RIM ($14 billion).