Elsewhere in exciting financial news – Motorola is getting HAMMERED

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motorola-profits-down-2007.jpgSo first this week we had Apple saying it’s made loads of money, then we had analysts saying Microsoft’s about to announce it’s made loads of money too. Happy days!

So where’s all this money coming from?

It’s being hacked off Motorola’s bottom line, pretty much, with the company reporting a whopping 33% drop in total sales in 2007 compared to 2006, and the mobile division raking in a total of $4.8 billion in the last quarter.

That’s a depressing 38 percent drop in phone sales compared to the same period last year, dragging Motorola to a loss of $388 million – compared with a profit of $341 the previous year.

Poor old Big M was clearly on much more of a high in 2006 while the RAZR range still stood tall and had a bit of prestige, but the arrival of iPhone as the fashionable person’s phone of choice seems to have hit Motorola rather hard.

(Via Motorola)

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Gary Cutlack