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Friday, July 29, 2011

Motorola Mobility predicts a profitable year for mobiles

Motorola Mobility has announced financial results for the second quarter of 2011. It reported net revenue of $3.3 billion, up 28% from the same period in 2010.

Sanjay Jha, chairman and chief executive officer of Motorola Mobility, said “In the second quarter, Mobile Devices launched several new smartphones in the US and markets around the world. Revenues grew over 40% driven largely by Latin America and China where sales more than doubled year over year. Our Home business delivered another strong performance, and we introduced several innovative products and services for next generation multi-screen video solutions. With a focus on profitable growth and delivering differentiated LTE smartphones and tablets, we expect to achieve profitability in Mobile Devices in the fourth quarter and for the full year 2011.”

Quarterly revenue from the Mobile Devices unit was $2.4 billion, up 41% year-on-year. The company shipped 11 million mobile devices, including 4.4 million smartphones and 440,000 Motorola XOOM tablets - figures that are all up from the same period a year ago.

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