Jefferies & Co analyst Peter Misek reports that production of both models has been reduced to a combined total of just 1m phones per month.
The Z10 and Q10 were the first phones showing off the new much-trumpeted BlackBerry 10 operating system, followed by the budget-friendly BlackBerry Q5.
If the cuts in production are true, it's not a good sign for BlackBerry or the 5-inch BlackBerry A10, reported to be the next BB10 phone coming down the pipe.
Last month, BlackBerry reported a £55m loss despite the arrival of BB10 and its associated phones. And the company that all but invented the smart phone suffered an embarrassing slide when it was overtaken earlier this year by rival Windows Phone to to take third place in phone sales behind the iPhone and Android.
Is BlackBerry in serious trouble, or just starting to make a comeback? What's missing from BlackBerry's plans? Tell me your thoughts in the comments or on our Facebook wall.