Research in motion, the maker of BlackBerry smart phones and devices saw its stock fall a further 20% at the end of the week. The company has been struggling for revival for sometime now. Although one of the top smart phone manufacturers in the mobile world, the company has had a low phase in the recent times, having lost a majority of its market share to Apple and Android systems. It is expected that the launch of iPhone 5 will cause a further downfall in the sales of the company. While the share value was being standard at $29 in the past week, its value fell $5.90 and settled at $23.60 at the closing of the markets this week. This 20% drop translates to a loss of $3 billion, which is a serious drop in price. The $5.90 drop occurred in a day. Despite the continuous drop in stock value, BlackBerry makers are confident about a rise in the near future.

The competition is more fierce in the market than ever before and BlackBerry has to come up with the “SuperPhone” that it has been promising to cause an increase in its share value. This week also brought an announcement of the quarterly results of the company, which registered a fall of 58%. The total value of the company fell to $329 million. Although the trend was expected, analysts had not expected such a major fall, as was announced by Research in Motion on Thursday. Research in Motion is taking up major cost cutting methods and has slashed over 2000 jobs, which accounts to 11% of its work force. The slashing was necessary in the light of disappointing performance by most of its recent launches in both tablets and smartphones. The company also said that it has had to pay $118 million to substantiate job cuts.

The CEO of the company, Mike Lazaridis said that although the statistics indicated a bad condition of the company, the actual sales were not so bad and owing to the recent launches which have been in the market for a very short while, there are good chances of revival. The most recent launches have been Curve, Torch and Bold. As of August, when the sale figures were calculated, the three new series had been in the market for just two weeks. The CEO assured that the sales would show positive results, although experts and analysts are highly skeptic about the prediction.