Motorola Mobility quarterly loss deepens

Motorola Mobility has posted a loss of $86m in its first-quarter earnings for 2012. The loss is $5m deeper than the $81m loss the company made in the same quarter last year. The firm, which is on the verge of being acquired by Google, is still to post an annual profit, having recorded losses for the four years since it was established.

First-quarter revenues did grow by two per cent to reach $3.1bn and net revenues for mobile devices in the first quarter were $2.2bn, up three per cent year-on-year.

“The introduction of RAZR MAXX marked another successful addition to the Motorola product family and contributed to our growth in smartphones. Our Home business delivered another solid quarter highlighted by improvement in year-over-year profitability,” said Sanjay Jha, chairman and CEO at Motorola Mobility.

“We continue to work closely with Google to complete the proposed merger during the first half of the year.”

The company shipped a total of 8.9 million mobile devices in the first quarter, 5.1 million of which were smartphones. Revenues from the firm’s Home segment stood at $884m, down two per cent year on year.