Motorola CEO is out as Motorola posts $3.6 Billion loss

Poor old Motorola seem to be delving right into the slumps these days, and now Motorola has posted a $3.6 billion net loss in the 4th quarter of 08 as their mobile handset division continues its downward dive.

Motorola suspended their quarterly dividend and has stated that senior vice president, and corporate controller, Edward Fitzpatrick will replace Motorola CEO Paul Liska as of now and Motorola will look for a permanent replacement.

Motorola’s mobile division still slumps with sales of $2.35 billion which is down some 51% as compares with a year ago on the same quarter. They shipped 19.2 million handsets as opposed to 40.9 million in the 4th quarter of 07 a drop of some 53%.

Full article here

Live Comment

Your email address will not be published.