Motorola has revealed its results for Q4 2008 revealing a continued drop in sales as losses totalled $3.6 (£2.5) billion in the quarter.
Year on year sales for the handset division dropped 36 per cent with sales in the fourth quarter 51 per cent down on the same quarter in 2007.
“In light of the economic climate and challenges we face, we have implemented aggressive measures to reduce costs and improve financial flexibility, particularly in mobile devices,” said Motorola chief executive officer of Mobile Devices Sanjay Jha.
“The cost-reduction actions underway are expected to generate aggregate savings of approximately $1.5 billion in 2009. We continue to take appropriate action to address the downturn in the global economy as well as the challenges related to our current mobile devices portfolio. We are aggressively developing innovative new products, and we are encouraged by the positive customer feedback on our smartphone roadmap.”
Motorola’s other business units were stable with operating earnings for the Home and Networks Mobility unit growing 33 per cent year on year and a 3 per cent growth for the Enterprise Mobility business.