Motorola Mobility posts quarterly loss
Motorola Mobility Inc. (MMI-N) posted a quarterly loss after it warned earlier this month that it was having a tough time competing in the smartphone market amid intense competition from rivals such as the Apple Inc. iPhone.
The company, which is seeking approval to be bought by Google Inc (GOOG-Q), reported a net loss of $80 million US or 27 cents per share compared with a profit of $80 million or 27 cents per share in the same quarter the year before.
Revenue rose slightly to $3.436 billion from $3.425 billion in the year ago quarter.
The report could be the last for Motorola Mobility, which said that it expects the deal to close early this year. Motorola Mobility was separated from Motorola Inc. when the company split in two last year.