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Wednesday, May 2, 2012

Motorola Mobility quarterly results show increasing loss

The latest quarterly results from Motorola Mobility show a net loss of $86 million (£53 million), more than the previous quarter ($80m) and the same quarter in 2011 ($81m). Net revenue was $3.1 billion, a 2% increase year-on-year.

8.9 million Motorola mobile devices were shipped in the quarter, of which 5.1 million were smartphones.

Sanjay Jha, chairman and chief executive officer at Motorola Mobility, said “The introduction of RAZR MAXX marked another successful addition to the Motorola product family and contributed to our growth in smartphones. Our Home business delivered another solid quarter highlighted by improvement in year-over-year profitability. We continue to work closely with Google to complete the proposed merger during the first half of the year.”

The planned merger between Google and Motorola Mobility is still awaiting approval by the authorities in China.

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Author: The Fonecast
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