Earnings: Motorola Reports Net Loss; Handset Sales Down; Spinoff Delayed

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Motorola (NYSE: MOT) reported a third quarter net loss of $397 million, or $0.18 cents a share compared with a profit of $40 million or 3 cents a share in the same quarter a year ago. Sales dropped 15 percent to $7.48 billion from $8.81 billion a year ago. Motorola’s struggling handset unit shipped 25.4 million phones in Q3, compared with 37.2 million units a year ago, for an estimated market share of 8.4 percent. In the same quarter, rival Nokia (NYSE: NOK) shipped 117.8 million units, Samsung shipped 51.3, Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) shipped 25.7 million, while LG (SEO: 066570) shipped 23 million. The business reported sales of $3.1 billion, falling 31 percent compared to the year-ago quarter. It also saw an operating loss of $840 million, compared to an operating loss of $248 million in the year-ago quarter. Motorola plans to postpone its spinoff. Co-ceo Sanjay Jha said in a statement:

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No spinoff… so THIS is why Paul Liska was tossed aside? Paul– we love you!

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