Motorola Taking $101 Million Charge
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Motorola said it will take a pretax charge of $101 million in its second quarter after cutting 2,100 jobs.
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Motorola Inc said on Wednesday it will  post an operating loss in the current quarter as its cell phone  business is taking longer than expected to turn around, dashing  Wall Street hopes for a profit and sending its shares down as  much as 23 percent.
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Mobile phone maker Motorola Inc  said on Tuesday that two of its subsidiaries had sued Aruba Networks Inc  for infringement of patents involving short-range wireless network technologies.
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AT&amp;T, the US telecommunications group, yesterday said it will take a restructuring charge of about $1.1 billion in the third quarter mainly to cover the cost of about 7,000 job cuts and revalue downward its assets by $11.
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MCI Inc. reported yesterday that it will take a $3.5 billion non-cash charge in the third quarter to reflect the severe downturn in its consumer long-distance telephone business.
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(InfoWorld) - Two days after it restructured operations, MotorolaÂ on Thursday reported that flagging sales of mobile devices were a factor in its second-quarter loss of $28 million, or $0.01 per share. The telecommunications device maker posted income of $1.38 million, or $0.55 cents a share, one year earlier. Revenue declined by 19 percent to $8.73 billion from $10.82 billion one year earlier. The drop was expected: Motorola issuedÂ preliminary financialsÂ last week, warning that its results would be lower than had been forecast. The company said Thursday that excluding one-time costs, it would have earned $0.02 per share. Analysts surveyed by Thomson Financial, who revised estimates lower after last week's warning, were forecasting break-even results on sales of $8.64 billion. Layoffs and other one-time charges were responsible for losses amounting to $0.04 per share. But the loss for the quarter underscores the company's beleaguered mobile device business, which has been outflanked by rivals including Apple. The pressure will continue. Motorola announced that it expects earnings in the third quarter to be equal to or slightly higher than the second quarter, and that its mobile devices unit will probably not be profitable this year. The company saw a drop in mobile device sales in Asia, a hot market where vendors are trying to get a big share of the market in fast growing economies, as North American and European markets become saturated with mobile phones. Motorola has taken steps to address its problems. The vendor announced Tuesday that it's restructuring into three business divisions: Mobile Devices, Home and Networks Mobility, and Enterprise Mobility Solutions. It also has a new chief of its mobile unit, Stu Reed. Motorola CEO Ed Zander has beenÂ under pressureÂ to resign. He attracted criticism from big-name investor Carl Icahn earlier this year, and recently has been attacked by activist shareholder Eric Jackson for the way he's running the company. Although Motorola has taken steps to cut costs, a core challenge for the company is product design in the competitive handset arena. ItsÂ Razr deviceÂ was praised for its design, but in a fast-paced market quickly became an also-ran, under a barrage of products from rivals that in addition to Apple include Nokia, Samsung Electronics, and LG Electronics. Despite expecting mobile phone sales to be under increasing pressure, Motorola did say that it expected its overall financial results to improve during the second half of the year. Thursday morning, Motorola shares were trading at $18.18, up $0.18 from its opening. Â
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Motorola Inc.  said it expects to cut an  additional 4,000 jobs as it continues to lower costs.
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TORONTO -- Research In Motion Ltd. is suing Motorola Inc. over several patents used for wireless devices such as RIM's BlackBerry e-mail devices and Motorola's Razr smart phones.
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Targeting a top gripe by cell phone users and breaking ranks again with its industry, Verizon Wireless plans to prorate the fee it charges subscribers who break a contract so they only pay an amount proportional to the time left on their agreements.
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Motorola's latest move against its rival is a lawsuit.
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Motorola Inc.  aims to cut the  cost of making its cheapest mobile phones by about $2 to $5 per  handset to improve profits, Chief Executive Ed Zander said on  Thursday.
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Some cell phone companies charge  their users $100 to $200 to end a contract no matter what the  reason and disguise their own charges as taxes on bills,  witnesses told a congressional panel on Wednesday.
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Motorola Inc. will cut 1,000 jobs worldwide and take a charge of 50 million dollar for severance benefits as it completes the spinoff of its semiconductor division, officials said today.
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The Internet phone provider now faces paying out hefty damages and a possible shutdown of its service.
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Tyco International Ltd. Tuesday said it will take a $167 million charge after repurchasing $350 million in convertible bonds. The Bermuda-based industrial conglomerate also backed its forecast for operating
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WASHINGTON -- Sprint and AT&amp;T will be paying a total of $1.5 million to settle with federal regulators. The government charges the phone giants failed to inform potential customers of their rights under federal credit law, after they were denied service.
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Motorola Inc  on Wednesday  forecast a loss for the current quarter, saying a recovery in  its mobile devices business would take longer than expected.