Motorola Posts $397-Million Loss

Motorola

Has Moto lost its mojo? Well, not quite, but almost. Heck, no, it’s not economic Armageddon for them but the news is well away from the bright light. Motorola has lost a jaw-dropping sum of $397 million in its earnings for the third quarter.

Additionally, there too have been major setbacks since their plan to release handsets powered by the latest in mobile gaming platform called Android has been called off. That is, instead of 2009, another year may be added to the timeline.

A year ago, within the same quarter, the phone company earned a total of $40 million. But fast-forward to the present: Motorala has announced a plan to tighten its belt on expenditures in 2009. The cut will be around $800 million.

Moreover, Motorola has announced not to sell some of its manufactured handsets until after the end of the third quarter of 2009. However, all that Moto can do now is keep that fighting spirit for a hopeful comeback.

Image source: http://www.motorola.com   

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