And Motorola sales booming too

21 Apr 2004

Motorola yesterday reported a tripling of Q1 profits and a 67% increase in turnover at its handset division, as the company joined the growing ranks of handset makers cashing in on the recent problems of the world’s largest mobile phone maker, Nokia. Underlying the recent shift in the global market, Motorola regained market share in Nokia’s key home territory, Europe, for the first time in several years and went on to predict more gains in the coming quarter. Motorola shipped a record 25.3 million units in the period under review, up 51% year-on-year, on revenues of USD4.1 billion (+67%). Operating earnings rose by 300% from USD114 million to USD398 million. The success of the mobile division helped push group revenues up 42% to USD8.6 billion and net earnings to USD609 million, from USD169 million.