Motorola Plunges on Weak Mobile Sales
As Motorola continues to struggle with its latest mobile phone products, the company announced sluggish results Tuesday, which included an 84 percent drop in fourth quarter not income.
According to the Wall Street Journal, the losses were attributed almost entirely to poor sales in mobile phone shipments. These included a drop of 38 percent in sales from the same period the year before, and a 12.4 percent decline in market share. The problem for the company has been a lack of success for follow-up products to the popular RAZR smartphone and failure to compete with new products from competitors.
The company replaced chief executive Ed Zander with Greg Brown late last year. Brown, in announcing the results, promised no quick fixes, but said that a recovery was on the way.