Research in Motion has more bad news for their fans and investors. The company has posted their latest quarterly earnings and the numbers are bad. RIM has posted losses of USD 518 million. They are cutting around 5000 jobs across their operations. And this is not the worst news of the day.

The company has admitted that the development of their next generation BB10 mobile platform is taking more time than originally estimated. They are now looking at launching their first smartphone running Blackberry 10 platform early next year.

Good thing is that they would be able to launch a device with hardware keyboard just after the launch of their touchscreen only devices. The problem for RIM is that by that time, Apple iPhone 5 would be out, Microsoft would have Windows Phone 8 devices in the market and Google Android would probably be in version 5 as well. They are going to play the catch-up game for a long time.