It may no longer be a question of if but when Canada’s Research In Motion gets sold.

After the close of trade Tuesday, RIM announced that it has hired J.P. Morgan Chase and Canada’s RBC Capital Markets to advise it in its strategic options. It also warned inverters that it will turn in a first quarter loss next month. This will be their first operating loss in nine-years.

The company, which has struggled as consumers turn increasingly towards iPhones and smartphones powered by Google’s Android software, said it will make “significant headcount reductions.”

Vic Alboini, chairman and chief executive officer of Jaguar Financial, a minority RIM share holder, told 680News that he thinks he knows who buys the BlackBerry maker.

“I see three logical buyers. Microsoft, IBM and Facebook. Basically what RIM has to do is it has to split itself into two companies, the handset manufacturing business and the software and services platform,” explained Alboini.

RIM shares fell as much as 14 per cent in the after-hours trade, Tuesday.