Research in Motion Limited (USA) (NASDAQ:RIMM) (TSE:RIM) will launch its all new Blackberry 10 based on the latest operating System, today. The company, through this much awaited and discussed launch, will try to reclaim the position it used to enjoy prior to iPhone and Android phones. The company currently holds a meager 4.6 percent share of the mobile market.

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This launch will be one of the most important in the history of RIM. Eventually, RIM will launch two versions of the Blackberry 10, which is set to launch a year later than its schedule. One is a touch screen phone, and the other is QWERTY keypad phone with a small touch screen. The change, however, is expected to be seen in the software that manages business and personal information.

Blackberry Balance, which is a system in the phone for corporate and government information technology managers, will allow compile business related apps and data on Blackberry 10 handsets from personal materials. Along with this, Blackberry Balance will let an IT manager remotely delete corporate data from fired employees’ phones and leaving the personal photos, emails, musics, and apps of these users untouched. The system can also block users from forwarding or copying information from the work side of their phone.

The other system in Blackberry 10, known as Blackberry Hub, will merge messages generated by e-mail, Twitter, Facebook Inc (NASDAQ:FB), instant messaging and Linkedin Corporation (NYSE:LNKD) accounts automatically in to a single inbox.

Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) has taken the initiative to woo young users by hiring students from the 57 companies established in Kochi’s (India) startup village to develop apps. These students have developed around 150 new apps, ranging from algorithms guessing moods to those which help start a car and accelerate it. Through these apps Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) wants to establish its new image of Blackberry and snatch market share from rivals Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930).

Blackberry is offering users 1,05,000 apps compared to 7,00,000 of  Android and 7,75,000 of Apple. To come up to the level of its rivals, Blackberry focused on innovating apps and chose Kerala as its first destination in Asia Pacific last year.

“We found the Kerala Start-up Village to be excellent in garnering college support, and providing land, legal and financial assistance to student entrepreneurs,” said Annie Mathew, director alliances and business development at RIM India.

The shares of Blackberry are in sell-off mode now, after months of rallying. The stock of RIM surged three times after hitting its nine-year low in September, last year. This rally was seen in the wake of the expectations by the analysts and the users, who are expecting something new and innovative from Blackberry 10.

One of the app developers for Blackberry, Arjun R Pillai, from India said Blackberry is focusing on the quality and not the quantity of Apps.

“The only challenge behind developing an app for Blackberry was that the exposure was low compared to an Android. Hopefully, it will get resolved now,” says Pillai. Mathew of Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) believes having fewer apps on Blackberry World in contrast to rival platforms, is not a disadvantage. “We just focus on the quality of apps, never the quantity. After all, how many poker games do you need?”

Another problem for the Blackberry maker is that its eroding market share has diminished its leverage with both carriers and developers. Though carriers have lined up to distribute the new devices, they are negotiating to lower the fees they pay Research In Motion Limited (NASDAQ:RIMM) (TSE:RIM) to use its software and computer network.

Research In Motion Limited (USA) (NASDAQ:RIMM) shares are currently trading at $16.22.