Blackberry CEO Thorstein Heins told the press during the firm's earnings call on Friday that the company will not roll out a BlackBerry10 upgrade to the PlayBook. After launching the 7-inch device in 2011, the company may bow out of the tablet market altogether, despite earlier reports that a new PlayBook would launch this year.

BlackBerry will now focus exclusively on its line of smartphones following what Heins described as a lengthy decision process.

"We were looking at solutions that could move the BlackBerry 10 experience to Playbook," the CEO said, according to The Wall Street Journal. "But unfortunately, I'm not satisfied with the level of performance and user experience and I made the difficult decision to stop these efforts and focus on our core hardware portfolio."

BlackBerry's announcement will likely be viewed as bad news for the company's investors and, especially, early adopters of the tablet. The PlayBook was met with initial excitement, but hit its fair share of road bumps, perhaps most notably the revelation that the original software couldn't even send emails on its own. The company shipped just 100,000 units in its most recent quarter, and expects sales to slow as it clears out the remaining stock.