It’s no surprise to anyone that Blackberry has been hemorrhaging money over the past few years though its latest device in a once innovative-turned-insignificant smartphone line may quell the bleeding just yet. Chinese leak site DGtle got its hands on preliminary pics and specs of the BlackBerry R10.

This is the latest installment in the BlackBerry line with predecessors BlackBerry Z10 and Q10 debuting to so-so reviews (though the Q10 is still absent from the U.S. market). The R10 has been described thus far as being a budget-friendly version of the R10 and based on specs and pics alone, looks to be exactly what one would expect from a budget smartphone.

If DGtle is correct, the BlackBerry R10 will sport a meager 3.1-inch 720×720 display and QWERTY keypad. The 5mp front and rear cameras may be able to support 2560×1920 resolution snapshots. Expect a solid 2GB of RAM and 8GB of internal storage, all to be powered by a 1800 mAH non-removable battery. The operating system should be BlackBerry 10.1.

There’s been no mention of release date or price but the device may be unveiled in the upcoming weeks. RIM’s BlackBerry Live event in Orlando, FL is slated to take place on May 14-16 and would be the ideal opportunity for RIM to deny or confirm what we’ve seen under the R10’s hood already. With “budget” being used so many times to describe this phone, I don’t expect anyone to have to break into their piggy bank in order to afford it.

Time to hear from the BlackBerry faithful out there. Having never used a device in RIM’s flagship line, I’m curious as to what experienced BlacBerry users have to say. Will the latest BlackBerry be able to keep RIM afloat? Is this one of the better smartphones in terms of combined quality and low price? Does RIM stand a chance of competing with the likes of Apple, Samsung, and the emerging LG? Leave us your thoughts in the comments section below