Did we really expect anything less?
This has become nothing more than morbid curiosity…
Yes, we’re talking about Motorola and its latest car crash financial results. Q4 is in and for the voyeurs amongst you here we go:
Motorola reported a net loss for the quarter of an incredible $3.6bn with revenue an impressive (but not considering the results) $7.1bn which is down from an even more monstrous $9.6bn in this same period last year.
The big kick in the pants (unsurprisingly) is the mobile phone division where revenue dropped almost 50 per cent from $4.81bn in the same period during 2007 to $2.3bn. Yes it is big numbers but that doesn’t hide some worrying proportions here. Taking this into consideration then it is no shock Motorola CFO Paul Liska is out of a job and a cost cutting exercise to the tune of $1.5bn is planned for this year.
Despite all this Motorola is being realistic predicting a minimum of a 10 per cent downturn in its mobile division next quarter. That said, if it can return to the forward thinking which brought it the RAZR and does indeed follow through on the widely reported commitment to Android then it could yet just pull out of this mess.
No promises but the potential is there….