22
Jan
2007
Yahoo: Motorola Inc., the world’s second-largest mobile phone maker, announced 3,500 job cuts after reporting a sharp fall in earnings due to an industry price war.The US company’s revenues surged by 17 percent to a record 11.8 billion dollars (9.11 billion euro) in the fourth quarter through December, thanks to robust worldwide demand for the latest cellphones. Motorola shipped a record 65.7 million handsets in the three-month period, up 47 percent from the same quarter of 2005.
But its net profits slumped 48 percent to 624 million dollars (482 million euro), as the company was forced to slash prices to keep up with competition for share of a market that is dominated by Finland’s Nokia.




