“Motorola Inc. warned on Wednesday that it would post a first-quarter loss and cut its forecast for revenue far below Wall Street expectations, citing weaker-than-expected sales of mobile devices,” Reuters reports.
MacDailyNews Take: Gee, whatever could it be that could be contributing to weaker-than-expected sales of mobile devices? It’s almost as if people are waiting for some other mobile device to become available.
Reuters continues, “The No. 2 maker of mobile phones said it expects a first-quarter net loss of 7 cents to 9 cents per share, including 9 cents in charges. It cut its forecast for revenue to a range of $9.2 billion to $9.3 billion, compared with the previous $10.4 billion to $10.6 billion. Analysts on average had been expecting revenue of $10.4 billion, according to Reuters Estimates.”
Reuters reports, “Motorola said the revision was due to lower-than-expected sales and operating earnings at its mobile phone division and a difficult pricing environment, particularly for low-tier products, and a limited advanced phone portfolio.”
MacDailyNews Take: After Steve Jobs’ market-freezing Macworld Expo performance, everybody not named Apple has “a limited advanced phone portfolio.”
Reuters continues, “‘Performance in our mobile devices business continues to be unacceptable and we are committed to restoring its profitability,’ Chief Executive Ed Zander said in a statement.”
MacDailyNews Take: Good luck there, Ed. You’re going to need tons of it.
Full article here.
[Thanks to MacDailyNews Reader “Investor” for the heads up.]
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