Motorola issues profit warning
12th July 2007 - Motorola has had another bad quarter, with profits in their cell phone division falling. The company
announced recently that their overall sales had remained flat at $8.7 billion, down from the $9.4 billion that the company managed in the first quarter of 2007. They blamed much of this dip on poor sales of cell phones in Asia and Europe.
The company said that it sold between 35 and 36 million phones in the second quater of 2007, And it doesn't look like it will get any better soon; the company says that it doesn't expect the mobile devices section of the company to be profitable in 2007 at all. The bad news didn't seem to affect the stock price of Motorola too much; the shares continited to be traded at around $18.08 after the announcement. However, the price of the companies shares has fallen a lot in recent months; the were at $26.03 in October of 2006.
