We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,258 News Articles

Slack phone sales contribute to Motorola loss

Phone maker struggles against Apple's iPhone

Motorola has revealed revenue for Q4 2008 is down 26 percent from last year.

The company, which faces tough competition from the likes of Apple's iPhone, said revenue for the quarter stool at $7.14bn, with the biggest decline in its mobile phone division, where revenue fell 51 percent to $2.35bn. Motorola also revealed it had suffered a net loss for the quarter of $3.6bn, or $1.57 per share, much of which was attributed to tax charges and goodwill write-downs.

Motorola Motozine ZN5 review

Of the $1.57 per share loss for the quarter, deferred taxes accounted for $0.91, goodwill impairment $0.71 and investment impairments 0.09.

Motorola's mobile phone division saw revenue fall by 51 percent compared to last year

Visit Mobile Advisor for the latest mobile phone news, reviews, tips & tricks, as well as PC Advisor's unique Apple iPhone 3G Spotlight

Charges relating to business re-organisation accounted for a loss of $0.05 per share. Motorola says it expects these and other re-organisation measures will help it save around $1.5bn this year.

Looking ahead, Motorola said that through the first quarter it expected losses to continue at between $0.10 and $0.12 per share, excluding the cost of re-organisation, but did not comment on the period after that. Analysts polled by Thomson Reuters expected a per share loss $0.06 for the first quarter.

The company has suspended the payment of dividends until further notice.

Motorola also said it is looking for a new CFO, after the previous post holder, Paul J. Liska, resigned. The company has appointed its corporate controller Edward J. Fitzpatrick as interim CFO.

See also: Motorola LTE network enables UK 4G trials

IDG UK Sites

Microsoft Surface 3 UK release date, price and specs: New Surface tablet offers free upgrade to Win?......

IDG UK Sites

It's World Backup Day 2015! Don't wait another minute: back up now

IDG UK Sites

Adobe Comp CC iPad app review

IDG UK Sites

April Fool's Day pranks: play these geeky pranks on April Fools Day and fool your friends