Motorola Mobility, while better known in the finanical section of the newspaper for its merger with Google has today released its earnings for the first quarter of 2012. During this period they had a net revenue of $3.1 billion and a operating loss of $86 million.
This loss was primarily lead by a loss of $121 million by Motorola’s mobile handset side of the business, this loss is up over 30% from Q1 2011. While the home sector, which mainly consists of cable boxes, made $68 million in the same period.
The report also states that the merger with Google should be completed “during the first half of 2012.” The $12.5 billion transaction is still waiting on approval from Chinese authorities although the deal has already been approved by the US and the EU.
In the first quarter of the year Motorola shipped 8.9 million mobile devices, of which 5.1 million were smartphones. This charge was primarily lead by the battery-packed RAZR MAXX, which will be launching here in the UK soon. The average selling price of a Motorola handset appears to be roughly $250.
KitGuru says: It looks like Google has some work to do if it wants to shift Motorola’s handset division into the black.