Research in Motion was ranked number one on the list, with a three-year average earnings-per-share growth of 84 percent and revenue growth of 77 percent. Shares of RIM have a three-year annual total return of 45 percent.

Apple, which is three times the size of RIM in sales and market value, only came in at number 39 on the list. In fact, IDC recently reported that the bestselling smartphone in America so far this year by units is not the iPhone, but the BlackBerry Curve, which is made by RIM.

RIM has a 56 percent share of the $12 billion U.S. smartphone market. During the past 10 years, the company has sold about 65 million phones to its 28.5 million subscribers, increasing its stock market capitalization from $96 million to $42 billion.

Even though the BlackBerry was once considered a business tool, it has made large gains as a consumer product, and now appeals to many markets and age groups. During Q4 2008, 80 percent of the company’s new subscribers came from the non-business crowd, which could have something to do with the company launching its first television campaign targeting a mass audience at the same time.

Balsillie, CEO of Research in Motion – which produces the BlackBerry, said he plans to focus on the company’s core business in phones. Balsillie’s statement comes as some computer makers are starting to produce phones and phone companies, such as Nokia, are looking into netbooks.

“Form factor is a personal preference but it’s got to be something that lasts the better part of the day and you can hold up to your ear and clip onto your belt,” he told Reuters. “Those are a very tight systems constraints for a netbook.”

In essence, Balsillie is focused on developing new versions of the BlackBerry phone. He said if a phone’s dimensions seem too cramped, they can be suplemented with peripherals and Bluetooth.

Bob Stutz, an executive from SAP, a business supplier that delivers business applications to BlackBerry devices, shares Balsillie’s thoughts.

“We’ve been down this route with these kinds of devices,” he said, referring to “iPaqs, fliptop notebooks and other specialist devices. Why we are doing this with RIM today is because these (other) devices don’t work.

“Customers really have been down the gamut,” Stutz added. “They’ve been down this path. At the end of the day what we’ve really found is that if they can do it on a BlackBerry that’s what they’ll want.”