BlackBerry Z10 price cut again, available for Rs.17,990

Once a leader in the smartphone category, the Waterloo (Canada)-headquartered firm has seen a steady decline in market share, losing out to rivals Samsung, Apple and Nokia.

Research firm IDC has said "BlackBerry was the only operating system to realise negative year-over-year change of 77 per cent both for the quarter and for the year (2013) (-40.9 per cent)".

The Canadian company had launched its new operating system BB10 with much fanfare in January last year. However, devices based on the new OS have failed to excite consumers and analysts.

"Its legacy BB7 outpaced BB10 towards the end of the year, definitely not the results that the company had hoped for when it released BB10 in January," IDC said.

For the three months ended November 30, 2013, BlackBerry reported revenues of about $1.2 billion, compared to $1.6 billion in the previous quarter.

The company sold about 1.9 million smartphones in Q3, compared to 3.7 million smartphones in the previous quarter.