Waterloo, Ont.-based BlackBerry announced its new BlackBerry 10 smartphone, the Q5 will be launching in Canada Aug. 13 with multiple carriers nationwide.

First revealed at BlackBerry Live in May by CEO Thorsten Heins, the Q5 is designed as a lower-cost phone and was first launched in international markets including developing countries. It started appearing in July in markets including the Middle East, Africa, Asica, Latin America, and Europe. Now the Q5 will be brought to Canada in a bid to appeal to potential customers that just don’t want to shell out the cash for a higher-end model like the Q10 or the Z10. Carriers Bell Mobility, Telus Mobility, Fido, Koodo, Sasktel, and Virgin Mobile will offer the device. It will also be sold at multiple retailers.

In appearance, the Q5 looks very similar to the Q10 smartphone with its 3.1-inch touch screen and physical QWERTY keyboard. It will be available in Canada in two colours, black and “pure red.”

But under the hood it won’t pack the same punch. For example instead of the Q10’s dual-core 1.5 GHz processor, the Q5 has a dual-core 1.2 GHz processor. The Q5 offers 8 GB of internal storage space as opposed to the Q10’s 16 GB. Rather than an 8 megapixel camera, it will have a 5 megapixel camera. The new smartphone will offer LTE wireless support and comes with BlackBerry 10.1 installed.

Carriers have yet to list pricing for the Q5 smartphone. But according to blog MobileSyrup, Koodoo posted it would be available for $350 with no contract. But that information is no longer online at Koodoo.

Check out BlackBerry’s video of some hands on time with the Q5:

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