BlackBerry is looking to sell Canadians on a new smartphone, one day after revealing the company itself may be up for sale.

The troubled tech company on Tuesday introduced the BlackBerry Q5 — an economy model originally meant for markets in Europe, Asia, the Middle East, Africa and Latin America — to the Canadian market.

The Q5 runs on the company’s latest operating system and follows the debut of the Z10 model, which Waterloo, Ont.-based BlackBerry unveiled with much fanfare earlier this year.

The Z10 and its siblings have struggled against the latest iPhone and Android devices, which continue to dominate the smartphone market despite BlackBerry’s loyal customer base and once-prominent position.

The Q5 met underwhelming reviews and is thought to be falling short of sales expectations, though BlackBerry has not released any official data.

BlackBerry said Monday its board has launched a formal review of its "strategic alternatives" — including the possibility of selling the smartphone company.

There has also been much speculation the company could go private as another means of reversing its fortunes.

BlackBerry shares were up $1.11 or about 10 per cent at $12.24 on the Toronto Stock Exchange in early afternoon trading, and had been even higher earlier in the session.

With files from Canadian Press