Research In Motion, the maker of the BlackBerry smartphone, is planning to reveal the first phone with the new BlackBerry 10 system Wednesday.
The company is promising a "speedy browser, a superb typing experience and the ability to keep work and personal identities separate on the same phone," according to a CBS News/AP report.
BlackBerry was once the "go-to" device for business professionals but in recent years has seen dramatic market share declines as Apple's iPhone and Google's Android-powered devices have gained favor.
RIM is expected to announce two phones, one with a full touchscreen and the other with a Qwerty keyboard. It'll also be offering up a new "OS 10" operating system.
"They're really focusing on one handed operation here," explained Jessica Dolcourt, Senior Editor with CNET, "You can hold phone in your hand and move thumb around to navigate screen."
The availability of apps, quality of the built-in camera and cost will all be big factors that influence consumers as well.
Many experts think the BlackBerry 10 has to be a success to ensure RIM's viability in the smartphone market moving forward.
"They don’t have a plan B. If you see BlackBerry 10 phones struggle early on and carriers start to abandon them, that’s basically it for the company," said Roger Cheng, Executive Editor for CNET.
To read more on RIM's Wednesday event and the company's history, click here.