Motorola Swings to a Loss
Motorola Swings to a Loss
As Handset Sales Slide
Motorola Inc.'s mobile handset struggles continued in the second quarter, indicating the telecommunications equipment maker will likely take several years to turn itself around.
Motorola is attempting to rebound from a string of disappointing quarters bogged down by pricing pressure and an aging product portfolio. After a murky forecast for the year, Wall Street appears to be resigning itself to the notion that a recovery is further off than previously expected.
"We remain on the sidelines as Motorola's issues are likely to extend into 2008," said Philip Cusick, an analyst at Bear Stearns, in a note. "We believe management is taking appropriate steps, but the problems are far steeper than many imagined."
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