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.