MOT reports a $3.6 billion net loss ($1.57 per share) and said it will be suspending its dividend. The company plans to make a $1.5 billion cost-cut during the next year.
MOT announced it will cut 4000 jobs (in addition to its already-announced job cuts), and will see a Q4 net loss of 7-8 cents per share.
Motorola plans to make significant job cuts, potentially more than 50 percent of its handset division will be laid off. The world economic recession has taken a toll on Motorola, and financial problems are putting pressure on the company to cut back costs; unfortunately, this means decreasing labor costs by shrinking its workforce size.
S&P lowered Motorola’s credit rating below investment grade, to junk status. The company hasn't had a hit cellphone since the Razr.
Motorola is reportedly spending upwards of $50M to work on the Android operating system. Motorola is trying to develop an Android smartphone that is supposed to be a touchscreen, with lots of social applications, and a price point around $150.
Motorola recruited former Qualcomm chief operating officer Sanjay Jha to become co-chief executive officer and chief executive of the company’s mobile devices business.
Motorola shipped more cell phones than it anticipated which was mostly attributable to stronger sales in North America. The extra sales gave Motorola a small $4M profit, but the profit was better than analysts expected. A year ago in Q2, Motorola lost $28M. Motorola plans to roll out 50 new phones in 2008, a 25% increase from 2007.
Apple's new 3G iPhone sold 1 million units in just 3 days, making it one the largest consumer eletronic launches in history.
Motorola reported a loss of $194 million and had revenues 0f $7.45B, down 21% y-o-y. Motorola's mobil handset business lost $418M, although the handset division is in the process of being diverged to form its own company. Motorola's Network Division had strong profits in the quarter.
Motorola announced that it would divide its Mobile Devise segment from the rest of operations, creating two distinct companies. The fully division of the company is expected to take place in 2009.
Motorola announced Q4 2007 earnings in line with forecast, recording an operating loss in Mobile Devices of $1.2 billion for 2007 as opposed to earnings of $3.0 billion in 2006. Additionally, Motorola gives guidance for a firm-wide operating loss for the first quarter in 2008.
Motorola announced that it had suffered an operating loss of $158MM in the second quarter.
Stu is the former head of Globl Supply Chain Managament
Motorola announced an operating loss of $366MM
The stock dropped 6.6% reacting to news that the mobile services operation is in worse shape than
4th quarter 2006 earnings are released; profits slipped 48% and handset prices plummeted. Motorola
An analyst report states there is "no end in sight" for the company's financial problems.
