Motorola (MOT) Bludgeoned By Sprint (S) Samsung Phone
Wall St. is tearing into Motorola (MOT) today. The shares are down 5% to a new 52-week low at $8.14. Part of the trouble is that Sprint (S) is launching a new smartphone from Samsung. The price point will be…
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Wall St. is tearing into Motorola (MOT) today. The shares are down 5% to a new 52-week low at $8.14.
Part of the trouble is that Sprint (S) is launching a new smartphone from Samsung. The price point will be $129, which may not take much business from AT&T’s (T) new Apple (AAPL) 3G iPhone, but it could cut into Motorola sales.
It is one more tremendous weight on Motorola’s effort to shoe horn its way back into the handset marketplace. The Samsung phone comes to market at about the same time as new versions of the RIM (RIMM) Blackberry and the latest iPhone. Even Palm (PALM), nearly out of business itself, it offering a new low-cost handset.
It has just gotten too crowded for Motorola to turn itself around in the phone booth.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.