Blackberry creator Research in Motion (RIM) has mentioned it will check the launch of its new phone working network Blackberry 10 and is to cut 5,000 jobs.
The declaration of work losses, that RIM had warned of final month, came as the definite reported a $518m (334m) net loss in the 3 months to 2 June.
That compared with a $695m distinction in the same time a year earlier.
Analysts mentioned the results were worse than approaching and the Blackberry 10 check spelt more bad headlines for RIM.
Revenue in the initial entertain forsaken 43% to $2.8bn as sales of its Blackberry smartphones fell neatly for a second true quarter.
RIM has struggled to keep up with rivals in the smartphone market, such as Apple's iPhone and handsets running on Google's Android working system. It has moreover struggled to earn a foothold in the inscription market.
The Canadian definite had been pinning its hopes for a return on Blackberry 10.
The initial phone with Blackberry 10 was approaching after that this year, but will right away liner in the initial entertain of 2013.
"Our initial entertain results simulate the marketplace challenges we have summarized given my appointment as CEO at the finish of January," mentioned RIM team leader Thorsten Heins.
"I am not contented with these results and go on to work vigorously with all areas of the organization and the house to exercise significant changes to residence the challenges, inclusive a courteous realignment of resources and honing concentration inside of the company on areas that have the paramount opportunities.
"Our tip priority going deliver is the successful launch of the initial Blackberry 10 device, that we right away expect will happen in the initial entertain of monthly calendar 2013."
Shares in RIM have depressed about 70% over the past year.
After the let go of the initial entertain results, its shares plunged 18% to $7.47 in lengthened trade in New York.
RIM moreover mentioned it approaching to make an working loss in the stream quarter.
"These [results] are heartless and it looks similar to it's going to go on to obtain worse before it gets improved with this new fold of the check of BB10," mentioned Eric Jackson, sidestep account executive at Ironfire Capital in Toronto.
"The company [is] right away losing money. For a long time it's been able to say it's completely profitable. And nonetheless right away it's starting to plunge in the red and that's going to go on for a few quarters.
"And there's unequivocally no pledge that once they advance out on the other side of BB10 that it's going to be something that people will want."
He moreover mentioned that he think the company would have to cut more jobs in the future.
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