Shares of Research in Motion (NASDAQ:RIMM) crumbled to levels unseen since late 2003 on Friday as analysts openly speculated about the ability of the BlackBerry maker to stay alive after delaying the launch of a crucial new device.

The latest selloff for RIM leaves the stock down roughly 95% from its all-time peak of $148 that was set in June 2008, long before intense competition from Apple's (NASDAQ:AAPL) iPhone and Google's (NASDAQ:GOOG) Android devices dramatically eroded demand for BlackBerries.

"If RIM continues to be run as it is, we believe that the company will eventually fail," Nomura Equity Research said, according to Reuters.

A crush of analysts took an axe to their price targets on the Canadian company on Friday, a day after RIM revealed a steeper-than-expected quarterly loss of $518 million on a 33% slump in sales. RIM also announced plans to slash 5,000 jobs, representing nearly a third of its remaining workforce.