BlackBerry made a huge deal about its comeback to the smartphone industry by changing its name from Research In Motion to BlackBerry, and launching BlackBerry 10 (BB10) mobile operating system. This was the platform to make everything right for the Canadian company. Unfortunately, it appears things are not working out as expected and could get even worse in the coming years.

After two quarters of small profits, BlackBerry posted its Q1 results for the first three months period ending June 1. The company announced an $84 million loss from $3.1 billion revenue, which is a huge problem as it means BlackBerry 10 smartphones are not performing well at retail, and to make matters worse, BlackBerry has given up the third spot position to Microsoft and its Windows Phone 8 platform.

In the previous quarter, BlackBerry made $94 million profit from $2.7 billion revenues. That was a fairly positive showing, which is why it came as such as a surprise to see the company taking this nosedive. In the most recent quarter, BlackBerry managed to ship 6.8 million devices worldwide. This is up from 6 million from the previous quarter. However, it is not certain how many of them are of the BlackBerry 10 variety and how many of them are the older BlackBerry handsets.

BlackBerry had placed all of its hopes on the BlackBerry 10 platform to see it through the rough times, but it seems devices like the all-touch BlackBerry Z10 or the QWERTY keyboard-packed BlackBerry Q10 have failed to lift the company that had pioneered the world of smartphones. What's worse, the company announced that 4 million Blackberry subscribers have left, which means that number has fallen from 76 million to 72 million BlackBerry users. It is likely these missing subscribers jumped ship and adopted Android, iOS, or even Windows Phone devices.

The question now is, what's next for BlackBerry? The company needs to inject new and exciting devices to the market, or else, it won't be before long it is forced to put itself up on the block.