Canadian handset vendor Research In Motion (RIM) stepped up its game on Monday with the unveiling of its latest BlackBerry baby, the Bold.

This latest BlackBerry is the first to support tri band HSDPA as well as wifi and GPS.

In terms of looks it’s been called RIM’s answer to the iPhone, with its smooth edges, black chrome frame and leatherette backplate. The device packs a half-VGA (480×320) LCD screen, which looks pretty sharp, as well as a full QWERTY keyboard.

Under the hood is a 624MHz mobile processor, as well as 128MB of Flash memory plus 1GB of on board storage, augmented by an SD card slot.

One of the reasons the device has taken a while to come to market is the battery technology. RIM reckons users will get 5 hours talk time and 13 days standby time out of the Bold.

The phone will be available worldwide later this summer.

In other news, RIM has struck a deal with Microsoft to put Windows Live services on BlackBerry smartphones, including better integration between Windows Live Hotmail and the BlackBerry platform.

The deal will allow customers who use Hotmail and Live Messenger on their BlackBerry to benefit from real time communications using push technology.

Also, following in the footsteps of Google and Apple, RIM also announced a partnership with Canadian bank RBC and business information group Thomson Reuters to launch the BlackBerry Partners Fund. The initiative is a $150m venture capital fund designed to promote investment in mobile applications and services for mobile platforms.