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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Motorola Mobility shares slide on gloomy outlook AFP - Friday, January 28 Send IM Story Print Motorola Mobility shares slide on gloomy outlook Slideshow: Full Photo Coverage: Internet Portals & Search Engines NEW YORK (AFP) - – Motorola Mobility posted a second straight quarterly net profit but the US handset maker said sales had slowed as customers anticipate the arrival of the iPhone with Verizon Wireless. Motorola Mobility, which split off from parent company Motorola on January 4 to become a separately traded entity, reported a fourth-quarter net profit of $80 million compared with a loss of $204 million a year ago. Fourth-quarter revenue increased 21.3 percent to $3.4 billion. It was the second consecutive quarterly profit for the Illinois-based Motorola Mobility after years of losses but the company said it expected to post a loss in the current quarter of between $26 million and $62 million. The gloomy forecast and competition from the iPhone at Motorola Mobility partner Verizon Wireless combined to send shares in the company down 7.55 percent to $32.20 in after-hours electronic trading. Motorola Mobility said it shipped 4.9 million smartphones in the quarter, up from two million a year ago and 3.8 million last quarter. But Motorola Mobility chairman and chief executive Sanjay Jha said there had been "a little slowdown" in sales since the announcement Verizon Wireless would begin selling the iPhone next month, ending AT&T's monopoly over the device. Jha, who has tied the company's fortunes to Google's Android mobile operating system, expressed confidence in the future of the company. "The improvement in our financial results last year, including profitability in the fourth quarter, is indicative of the progress we have made in delivering innovative smartphones and improving the Mobile Devices business," he said. "With the global opportunities ahead, along with our diversified portfolio, our brand, and our people, we are well positioned to grow, and further improve our financial results in 2011," Jha said. Jha said that Motorola's answer to the iPad, an Android-based tablet called Xoom, which was crowned the best new gadget at the Consumer Electronics Show (CES) earlier this month, would go on sale in February. Motorola Mobility also said it expects to sell between 20 million and 23 million smartphones and tablet computers this year. Recommend Send IM Story Print Related Articles News Corp. to launch iPad newspaper Wednesday AFP - 13 minutes ago In U.S. courts, Facebook posts become less private Reuters - 1 hour 30 minutes ago US-TECH Summary Reuters - 1 hour 43 minutes ago Egypt's online movement takes to the streets Reuters - 2 hours 1 minute ago EU extends hacker-induced emissions trading halt AFP - 2 hours 4 minutes ago News Search Top Stories Egypt activists keep up the heat, boosted by ElBaradei 'Thunder-snow' storm buries US north-east Sarkozy: 'Merkel and I will never let the euro fail' Rosneft, Exxon ink Black Sea exploration deal Baghdad car bomb kills 37 mourners More Top Stories » Related Full Coverage Internet Portals & Search EnginesLatest development in the online world All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Bad eating can give you depression: study Cruz, Bardem baby boy 'doing great': spokeswoman Marooned Miami bay piano strikes odd note T. rex still king, says dino study Rare Sumatran tiger gives birth to three cubs More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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