The Waterloo, Ontario-based company's steep revenue decline and mounting losses have revived fears that BlackBerry, a pioneer in the smartphone sector, faces an ignominious death. "We are very disappointed with our operational and financial results this quarter and have announced a series of major changes to address the competitive hardware environment and our cost structure," Chief Executive Officer Thorsten Heins said in the earnings statement. %VIRTUAL-article-sponsoredlinks%BlackBerry said Heins wasn't available for an interview. The company said it had sold 5.9 million mostly older-model phones in the quarter but only recognized revenue from 3.7 million, given that many sales had already been booked. By contrast, Apple ( AAPL ) sold 9 million of its new iPhone 5c and 5s models in the three days after launch. Shares of BlackBerry rose 2 percent to $8.11 in trading before the market opened.