After dismal sales in the first quarter of their new BlackBerry 10 the future of the company could be in jeopardy.

BlackBerry was once the king of the mobile market because they were the only IT-approved device.  Just a few short years ago all work email arrived on a BlackBerry.  But, the years have not been kind as new devices with more social usablility and more user-friendly features have come along and the IT crowd has moved to Apple, Samsung, and Google.

Mike Matthews with The Mobile Culture in New York says BlackBerry only sold 2.7 million 10 devices in the first quarter, "BlackBerry has been in trouble for a while now but this is a huge (blow) their shares lost almost 30% of their value."

Matthews says BlackBerry is not in terrible shape.  They have over $3 billion in cash-on-hand and their security platform is still highly desired.  Matthews thinks we could see a sell-off of some of BlackBerry's assets in the next quarter or two.