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Friday, October 28, 2011

Motorola Mobility announces quarterly results

Motorola Mobility has announced its results for the third financial quarter of 2011. Net revenue was up 11% year-on-year to $3.3 billion (£2 billion), while the net loss in the third quarter was $32 million, slightly less than the net loss in Q3 2010.

Quarterly net revenue in the Mobile Devices division was $2.4 billion, up 20% year-on-year. The company shipped 2.5 million  more mobile devices than in Q3 2010, hitting a total of 11.6 million mobile devices. This included 4.8 million smartphones and approximately 100,000 Motorola XOOM tablets.

Sanjay Jha, chairman and chief executive officer of Motorola Mobility, said “Our third quarter revenues in Mobile Devices increased by 20 percent, driven by continued strong growth in international markets. With the recent launch of our iconic Motorola RAZR, we now have several 4G LTE devices in our portfolio. Our Home business is creating innovative solutions for our customers, taking leadership in the transition to all-IP networks, and delivering solid levels of profitability. We are also excited about the proposed merger with Google and continue to make progress to close this transaction.”

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Author: The Fonecast
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