Canadian mobile manufacturer BlackBerry has been rumored to be working on an Android-powered smartphone, and many have been awaiting the new device, which has been codenamed Venice. Leaked images of the purported device have made their rounds over the internet, and finally, after months of speculation and anticipation, BlackBerry CEO John Chen has confirmed on Friday that it will be releasing the Android device.

According to Mobile Syrup, Chen has confirmed on Sept. 25 that the company will be releasing BlackBerry Priv, which is the new smartphone's official name. The slider device is due for release late this year. The new Android device is poised to bring in a bigger market for BlackBerry, being its very first smartphone model to be equipped with the widely-used operating system. This may be an outright indication that the company's  own OS is a failure.

But BlackBerry does not seem to be keen on giving up on the BlackBerry 10 OS. The company also confirmed that it will be releasing the update on March 2016. The BlackBerry 10.3.3 has been announced a few months ago. CEO John Chen laid out the plans for the operating system as he announced the BlackBerry Priv slider handset. He said that while the new phone gives users options for operating systems, "the company will continue to develop and enhance the BlackBerry 10 operating system and is confirming plans to release platform updates focused on security and privacy enhancements, with version 10.3.3 scheduled to be available in March 2016."

Chen also indicated that the company will continue releasing new devices and developing its own operating systems. The company has faced huge losses over the years since it peaked in sales in 2009 and 2010. The Canadian company has not been able to build a solid following in the mobile market, as iPhones and Samsung flagships continue to dominate the business in sales. That startups like Xiaomi have become increasingly popular poses more challenges to the company, which only sold over one million units last year.

BlackBerry has recently been reported to lay off about 200 employees which are part of the "non-core" areas of the company. In July this year, BlackBerry also had a job cut of an unspecified number of positions as part of the company's restructuring.