Monday, August 1, 2011

Motorola Mobility Up, While Motorola Reports Overall Loss

Motorola reported that its Motorola Mobility has sold 440,000 Xoom tablets and 4.4 million smartphones in the second quarter.

Motorola went on to report a $56 million loss this quarter, compared to $80 million in net earnings during the same period last year; however, Motorola Mobility reported a revenue of $3.34 billion, up from the $2.61 billion in revenues that was reported last year.

While Motorola’s phone business reported a loss of $31 million on the sales of $2.4 billion, Motorola’s home division reported a profit of $62 million on revenue of $907 million.

Despite the fact that overall Motorola lost money this quarter, according to an AP report, Sanjay Jha, the chairman and chief executive officer of Motorola Mobility, remains hopeful. He said that by the holidays Motorola will release at least one more 4G smartphone and two 4G tablets.

Jha did also comment on the fact that Motorola’s third quarter earnings will not be as expected, due to the delay of the Droid Bionic, as well as a lower amount of tablet computers, lower prices and a seasonal decrease in the sales of set-top boxes.

"In the second quarter, Mobile Devices launched several new smartphones in the U.S. and markets around the world. Revenues grew over 40 percent driven largely by Latin America and China where sales more than doubled year over year. Our Home business delivered another strong performance, and we introduced several innovative products and services for next generation multi-screen video solutions," Jha said in a statement. "With a focus on profitable growth and delivering differentiated LTE smartphones and tablets, we expect to achieve profitability in Mobile Devices in the fourth quarter and for the full year 2011."

Motorola is currently predicting that its third quarter will either allow them to break even or show a very small profit.

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