Motorola forecasts loss on struggling phone biz
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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.
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Motorola Inc  said on Wednesday  it will post an operating loss in the current quarter as  recovery in its cell phone business is taking longer than  expected, dashing Wall Street expectations for a profit and  sending its shares down as much as 14 percent.
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Woes continue Despite a new CEO, there are no signs yet of a turnaround for Motorola. The company's mobile phone division recorded a shocking quarter, with the unit's revenues down 38 per cent year-on-year, losing $388m along the way. Motorola's mobile division recorded a $1.2bn loss in 2007.â¦
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Motorola sees its latest profits slump 84%, hit by a sharp fall in sales of its mobile phone handsets.
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Cell phone maker Motorola Inc. on Wednesday said net profits fell 84 percent in the fourth quarter and warned that the recovery in its struggling handset unit will take longer than expected.
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After two years of success due to the RAZR phone, sales are now slumping, but Motorola hopes that new models will fuel a recovery next year.
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Sprint Nextel Corp  reported  deeper than expected subscriber losses on Friday and said it  would cut about 4,000 jobs, raising fears of a slowdown in the  U.S. wireless industry, and its stock dropped nearly 25  percent.
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Motorola Inc.  warned investors of a second-quarter loss on Wednesday and said it no longer expected its mobile phone business to be profitable this year, blaming weak sales in Asia and Europe.
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InfoWorld - Motorola may spin off its handset business, the weakest part of a wireless giant that has seen hard times and a management shakeup in recent months.
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Sprint&#39;s negotiations to buy Nextel have ignited fears that Motorola will lose its exclusive deal to supply phones and equipment to Nextel.
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Cell phone maker Motorola Inc. on Wednesday warned of a second-quarter profit and sales shortfall, blaming poor results in its mobile devices business in Asia and Europe. The company also said it no longer expects mobile devices &#151; its largest business &#151; to be profitable in 2007.
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Blog: Motorola reported more losses for the second quarter of 2007, but management hopes that a recovery is still on the horizon.
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The day after announcing that 4,000 employees will be laid off, Motorola Inc. CEO Ed Zander told investors that he plans to boost profits with a wide range of multimedia handsets, instead of relying on a single blockbuster product like the Razr cell phone.
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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 15 percent.
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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 is warning that second quarter sales and earnings will be lower than expected.
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Amid increasing competition in a fickle cell phone market, Motorola Inc. expects to report a loss for its mobile devices business in 2007 and now estimates that second quarter sales will be lower than expected.