The launch of the Moto X handset failed to stop Motorola Mobile deepening its losses to almost a quarter of a billion dollars.
Parent company Google posted its third quarter results late last night, with the digital giant's shares surging to an all-time high after posting profits of $2.97bn, up 36.2% on last year. The Moto X has only gone on sale in the United States, amid a high profile ad campaign, with further Motorola products expected to be launched in the UK in the coming months.
Despite the launch, sales tumbled 33.7% during the quarter to 30 September to $1.18bn. Its losses deepened from $192m last year to $248m in its latest quarter. Speaking to analysts last night, Google CEO Larry Page said: 'While it’s still early days, Dennis and the team have already transformed Motorola’s product quality. Now they’re working to build out marketing and distribution.'
In its financial statement Page added: 'Google had another strong quarter with $14.9 billion in revenue and great product progress. We are closing in on our goal of a beautiful, simple, and intuitive experience regardless of your device.'
Author: Graeme Neill