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July 25, 2008 12:02:24 AM CDT

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Slumping Razr Sales Slash Moto Earnings

Posted Apr 24, 08 7:59 AM CDT in Business 

(Newser) – Apple and Nokia chewed away at Motorola’s cellphone market share, pushing the troubled handset maker to a larger first-quarter loss than expected, Bloomberg reports. Moto lost $194 million, or 9 cents a share, and revenues fell 21% to $7.45 billion. The company also  issued a bleak forecast for Q2 as handset shipments plunged 40%. Moto plans to spin off its handset unit this year.

"This was a company with one of the great American brand names. There's just nothing special going on there any more," said one analyst.

Source Bloomberg

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Verizon Wireless and Motorola, Inc. announced the MOTO(TM) Q 9c, the newest addition to Verizon Wireless' MOTO Q family.   (AP Photo)
Former Chairman and CEO of AT&T Corporation David Dorman will become Motorola Inc.'s chairman next month.   (AP Photo/Charles Dharapak, file)
A Motorola Razr cell phone is seen at a consumer electronics store.   (AP Photo/Lisa Poole, File)
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cell phones  • corporate earnings  • Carl Icahn  • Motorola  • handsets


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