RIM disappointed but hopeful with BlackBerry 10

Research in Motion (RIM) Chair Barbara Stymiest and President and CEO Thorsten Heins talk at the company's Annual General Meeting, less than two weeks after announcing disappointing financial results, deep job cuts and the latest delay in its BlackBerry 10 software, in Waterloo, Ontario, Tuesday, July 10, 2012. Analysts believe RIM is running out of time to turn itself around. Sales of the once-pioneering BlackBerry phones fell 41 percent in the latest quarter and likely won't pick up again until new phones come out next year. AP Photo/The Canadian Press, Dave Chidley

TORONTO—The CEO of embattled BlackBerry maker Research in Motion says he isn’t satisfied with the company’s performance, but he’s excited about its prospects with the upcoming BlackBerry 10 system.

Thorsten Heins said during a shareholders’ meeting in Waterloo, Ontario, on Tuesday that the past year has been very difficult.

He says the company has spent the past several months reorganizing operations to help reverse its fortunes. It’s also working hard to get devices running BlackBerry 10 out early next year, months behind schedule, to help it compete better with the iPhone and Android devices.

Research in Motion Ltd.’s stock has since been trading near a nine-year low. Two weeks ago, it announced disappointing quarterly earnings, plans to cut 30 percent of its workforce and the latest delay in BlackBerry 10.