2/4/2009 11:56:00 AM
Motorola sales and market share slide
Motorola has reported a 51% fall in phone sales, as it slid to the number five position in the handset manufacturer market.
The manufacturer’s market share slipped from 18.4% in Q4 2007 to 6.4% in the fourth quarter ended December 31 2008. It shipped 19.2 million handsets in the quarter, down from 40.9 million in the last quarter of 2007.
The company reported a net loss of $3.6bn (£2.5bn) for the fourth quarter and revenues fell to $7.14bn (£4.9bn) from $9.65bn (£6.7bn). The mobile phone division saw its quarterly sales fall 51% to $2.6bn (£1.8bn).
Motorola said it is suspending its quarterly dividend as it prepares for a tough first quarter. It has already implemented cost-cutting measures, including the decision to cut 4,000 jobs in January – 75% of which are from the mobile phone unit.
Meanwhile, the company’s chief financial officer Paul Liska, has left suddenly. Motorola corporate controller, Edward Fitzpatrick, will stand in for Liska until a replacement is found.