Motorola Inc posted a small quarterly profit on Thursday and forecast a bigger-than-expected profit for the current quarter, when it starts selling new advanced cell phones in an effort to revamp that business.
Motorola posted a third-quarter profit of $12 million compared with a loss of $397 million a year earlier. Revenue fell 27% to $5.45 billion, compared with Wall Street estimates of $5.54 billion, according to Thomson Reuters I/B/E/S.
The company, which has been losing ground in the cell phone market for more than two years, shipped 13.6 million handsets in the quarter, compared with 25.4 million in the same quarter the year before.
The report follows the introduction of two phones based on Google Inc's Android system, around which Motorola reorganized its entire cell phone business. (Reuters)