This could 'make it, or break it' for Research in Motion.

The company is unveiling it's newest creation, the Blackberry 10 on Wednesday and there's a lot of pressure.

The new phone launch is RIM's attempt to regain its position in the highly competitive North American and European smartphone markets, which are now dominated by iPhone and Android devices.

The blackberry 10 has a larger screen than the iPhone, an improved camera and a central hub that takes care of all your social media websites like Twitter and Linked In.

RIM chief executive Thorsten Heins has already offered a glimpse of some features on the new devices. They include BlackBerry Balance technology, which allows one phone to operate as both a business and personal device entirely separate from each other.

The new BlackBerry will also let users seamlessly shift between the phone's applications like they're flipping between pages on a desk.

Tech analysts believe this is their last chance to show if they can keep up.