Cell phone maker Motorola reported a drop in earnings for the first quarter today. The Schaumburg based company says that’s due to falling sales of mobile devices.
Motorola says it lost $194 million this quarter, on an overall revenue of 7 and a half billion. That works out to a loss of about 9 cents per share. The company says a 39 percent drop in sales of mobile phones and other handheld devices is mainly responsible.
In the current quarter, Motorola expects things to level off a bit, with losses of about 2 to 4 cents per share. The company has laid off 10,000 people in the last year and reorganized its structure hoping to revitalize sales.