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Motorola Swings To Profit; Slow In Comeback

Wall Street Journal - Apr 29, 2010

Motorola Inc. (MOT) swung to a first-quarter profit as a stronger economy lifted its networks and enterprise divisions, but its marquee handset unit continued to struggle with its turnaround in the competitive smartphone market.

Motorola, which previously warned of weaker phone shipments in the first quarter, said total phone shipments fell 43% despite an increase in sales of smartphones.

The results highlight the difficulty of competing against a flood of alternative smartphone makers in the market even as one of its devices, the Droid, gets serious backing from the nation's largest wireless provider in Verizon Wireless. While the company has rolled out several other devices, none have received the same kind of buzz or marketing support as the Droid.

"Clearly there's competition at each of our carriers, but I feel comfortable with where I'm positioned," Co-Chief Executive Sanjay Jha told analysts during a conference call.

The Schaumburg, Ill., telecommunications equipment maker posted a profit of $69 million, or 3 cents a share, compared with a year-earlier loss of $231 million, or 10 cents a share.

Read Full Article from Wall Street Journal

- Posted: 2010-04-29 10:36:47

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