Motorola announces Q3 financial results: Smartphones selling like hotcakes, tablets... not so much
Motorola Mobility recently announced third-quarter 2011 financial results, posting net revenues of $3.3 billion, up 11 percent from third quarter 2010. Mobile device revenue came in at $2.4 billion, up 20 percent from Q3 of last year. Motorola smartphones have been flying off shelves, with 4.8 million smartphones shipped in Q3 of 2011, up 1 million from Q3 of last year. On the flip side, Motorola’s XOOM tablet hasn’t been doing so well, with only 100,000 XOOM’s shipped in Q3 (apple ships that many iPads a day). There’s also a few tidbits in there about the Motorola/Google merger, with around 18 million in expenses going towards the merger, which will seek stockholder approval on November 17th. The merger will also require antitrust clearances in the U.S., by the European Commission, and in Canada, China, Israel, Russia, Taiwan and Turkey.
Overall, Motorola seems to be doing just fine with their Android smartphones, and with the upcoming RAZR sales, I’m sure that trend will continue. Let’s just hope Motorola figures out the sweet spot (price) on the tablet front, to allow for a better Q3 next year. Hit the link below for more information on Motorola’s Q3 financial results.