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By Mel Duvall
The Apple iPhone may catch most of the media buzz, but BlackBerry maker Research In Motion can now lay claim to an important bragging right. RIM has taken the top spot in Fortune Magazine's annual list of the world's 100 fastest-growing companies.
Waterloo, Ont.-based RIM outgrew a formidable list of competitors, including Apple, with an average sales growth rate of 77 percent over the past three years. In addition it has managed to grow its earnings per share an average of 84 percent over the same period.
RIM made its mark in the emerging smartphone market by initially focusing on the financial services and enterprise user. However, by broadening its devices to appeal beyond stock brokers and CEOs to more general consumers, the company has seen its sales soar. In its most recent earnings call RIM said more than 45 percent of its roughly 29 million subscribers were non-enterprise users.
Fortune noted that in the first half of 2009, the BlackBerry Curve outsold the iPhone, making it the bestselling consumer smartphone device in the country.
By comparison, Apple came in at No. 39 on the fastest-growing list, while smartphone rivals Nokia and Sony Ericsson didn't crack the top 100. Search giant Google came in at No. 68 and Indian outsourcing firm Infosys was 100th.
Technology companies dominated the top 10, although two were fertilizer companies, CF Industries and Potash Corp. of Saskatchewan.
Here are Fortune's top 10:
1. Research In Motion -- Waterloo, Ont., Canada. Smartphone manufacturer.
2. Sigma Designs -- Milpitas, Calif. Manufactures chips used in Blu-Ray players and other devices.
3. Sohu.com -- Beijing, China. Chinese search engine provider and gaming site operator.
4. Ebix -- Atlanta, Ga. Operates online exchange for insurance policies and annuities.
5. DG FastChannel -- Irving, Texas. Distributes ads and syndicated shows to TV stations and Web sites.
6. CF Industries -- Deerfield, Ill. Produces nitrogen-based fertilizer.
7. Shanda Interactive Entertainment -- Shanghai, China. Online gaming company.
8. Arena Resources -- Tulsa, Okla. Oil and gas producer.
9. Bruker -- Billerica, Mass. Makes x-ray systems and technology for MRI machines.
10. Potash Corp. of Saskatchewan - Saskatoon, Sask., Canada. Fertilizer producer.
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