Slumping Razr Sales Slash Moto Earnings

Motorola posts larger-than-expected $194M loss
By Jim O'Neill,  Newser User
Posted Apr 24, 2008 7:59 AM CDT
Verizon Wireless and Motorola, Inc. announced the MOTO(TM) Q 9c, the newest addition to Verizon Wireless' MOTO Q family.   (AP Photo)
camera-icon View 2 more images

(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.