Motorola Mobility’s handset division emerges as its weak link, plunges into quarterly loss (US)

Motorola Mobility released its revenues for the second quarter. The company posted a rise of 28{e1f18614b95d3cd6e4b3128e1cd15d99b042a60a5a19c19b7a8e07e7495efa10} in revenues to $3.3 billion. However, the company suffered a net loss worth $56 million; it had posted a profit worth $80 million last year.
The resultant loss came about, in the wake of a slump in profit in the company’s handset division. This particular division suffered an operating loss of $85 million while it had posted an operating profit of $62 million with regard to the company’s home electronics division.
The company’s shipments comprised of 11 million mobile devices, constituted by 4.4 million smartphones and 440,000 tablets during the three months.
Cash, cash equivalents and cash deposits worth $3.2 billion, made up the total cash at the end of the quarter while operating cash flow was breakeven for the quarter.