Motorola (MOT) sold only 27.4 million handsets last quarter, an astonish drop of 40%. The division may now be worthless. It will be spun off from the other operations, but investors will be likely to see those shares trade at $1.
Motorola’s loss widened to $194 million, $.09, in the first quarter from $181 million. Revenue fell 21% to $7.45 billion
The company also guided below previous numbers fo Q2.
It is, at this point, a company where management cannot do anything to reverse the handset trends.
Douglas A. McIntyre
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