Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) aka BlackBerry announced at its annual BlackBerry Live Conference to launch a new device Q5 running on its BlackBerry10 OS in July. Raymond James said in its latest research report that heavy sell-in of Z10, Q10 and now Q5 around the world will improve the company’s financial trends. However, analysts remain skeptical about Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB)’s service revenue stream which continues to decline.

Research In motion

The Canadian company has  earlier said that it will expand the BB10 product series this year. The mid-range, QWERTY keypad Q5 device is next in line, which will be launched in markets outside the U.S. in July. Raymond James thinks that Q5 will be priced in “mid-range” while BB7 devices will satisfy the need of customers who want a BlackBerry below $200.

BlackBerry Launches BES 10.1

Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) announced BES 10.1 during the conference, which has many features that business customers were looking for. The lack of it probably caused some enterprises to shun both Z10 and Q10 devices until now. The BlackBerry maker also announced Secure Work Space to be launched in June. It will enhance the security and manageability of Android/iOS devices.

Meanwhile, Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) said at the event that the New York City Department of Information Technology and Telecommunications plans to give its employees 2,000 BlackBerry 10 devices by this summer. BMO Financial Group has also been endorsing BB10 as their favorite platform. After testing the devices, the Los Angeles County Sheriff’s Department has also decided to deploy BES 10 across the organization.

BlackBerry Messenger The Next Social Media Play?

Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) revealed that its App World has grown to 120,000 apps, and BBM has 60 million users sending over 10 billion messages every day. The company plans to expand BlackBerry Messenger (BBM) by July by offering a free version for Android and iOS. Raymond James thinks that there may be some risks, primarily in emerging markets, where low cost Android devices could affect BlackBerry sales. But the move will benefit Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) by creating a social networking based advertising stream.

BlackBerry Messenger is facing stiff competition from free messaging apps like WhatsApp, but Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) said BBM’s added features like video sharing will give it an edge. Additionally, the company said that it will launch Q10 in the U.S. market in June, but didn’t specify a date.

Research In Motion Ltd (NASDAQ:BBRY) (TSE:BB) shares were down 1.87 percent to $14.72 at 11:26 AM EDT.