Motorola Mobility increases losses

Motorola Mobility increases losses

Losses at Motorola Mobility's mobile wing have risen to $121m (£74.7m) as the manufacturer said it expects its takeover by Google to be completed by the end of June.

Net revenues in its mobile devices segment were up by 3% year on year to $2.2bn (£1.36bn) for the three months to 31 March. Its operating loss increased by 36% from a loss of $89m (£55m) last year. When one-off costs were removed, the manufacturer said it made a loss of $85m (£52.5m), down from $61m (£37.7m) in 2011. It shipped 8.9 million devices during the quarter, including 5.1 million smartphones.

The wider business had sales of $3.1bn (£1.91bn), up 2% on last year. It made a net loss of $89m (£55m) or $10m (£6.2m) when exceptional charges were taken into consideration.

Motorola Mobility chairman and CEO Sanjay Jha said: 'The introduction of RAZR Maxx marked another successful addition to the Motorola product family and contributed to our growth in smartphones...We continue to work closely with Google to complete the proposed merger during the first half of the year.'

Editor: Graeme Neill

Written by Mobile Today
Mobile Today

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