BlackBerry developer Research in Motion (Nasdaq: RIMM) needs to do more to turn around, CEO Thorsten Heins acknowledged at the annual meeting in Waterloo, Ontario.

Nevertheless, Heins, 54, said he hoped the launch of the BlackBerry 10 smartphone might be as soon as January, rather than March as previously expected.

Still, Heins told shareholders, I am not satisfied with the performance of the company over the past year. Heins was named CEO in January.

Shares of RIM fell more than 5 percent after the meeting closed. They fell 39 cents to $7.28 in Tuesday afternoon trading, bringing their 52-week loss to nearly 75 percent.