BlackBerry reboots, rebrands in bid to reinvent

Canadian-based Research in Motion said it changed its name to BlackBerry as it launched the BlackBerry 10, the new platform aimed at helping the firm regain traction in a market now dominated by rivals.

"From this point forward RIM becomes BlackBerry," chief executive Thorsten Heins told a glitzy unveiling in New York, one of six global events for the launch. "It is one brand, it is one promise."

The company presented two new devices for its new platform, one with a physical keyboard called the Q10, and a touchscreen handset dubbed Z10.

The new BlackBerry "Will transform mobile communications into true mobile computing," Heins said. "Today is a brand new day in the history of BlackBerry."

The launch is seen as critical to BlackBerry, which had been the dominant smartphone maker before Apple launched its iPhone and others began using the Google Android operating system but now holds less than five percent of the global market, according to surveys.

While the new system drew some positive reviews, others noted that the smartphone market is a cutthroat competitive space and questioned whether BlackBerry could make a significant dent. Adam Leach, principal analyst at Ovum, praised the new BlackBerry offering as "A differentiated user experience in today's crowded and homogenous smartphone market" but said the company may have trouble winning back customers and could end up a "niche player."

Tech analyst Jeff Kagan said in a note that he was impressed with the lofty number of applications and the overall impression of the device. But Kagan said it was too soon to say if BlackBerry 10 will emerge as a major competitor to Apple and Google.

"This is the first step in Blackberry's recovery and I think they did a good job so far, but there are still so many more steps," Kagan said. "We'll have to wait and see, but so far, so good."

RIM shares rallied more than 68 percent in between late December and January 25 amid anticipation of the launch. But shares slid 12 percent Wednesday.

The Z10 device will be available as soon as Thursday in some markets, but not until mid-March in the key US market.

Heins told a news conference that the reason for the delay in the US is "a rather lengthy" testing process but noted some carriers are taking pre-orders. Verizon is marketing the phone in the US for $199 with a two-year plan.