Dismal. That's the only word that springs to mind when looking at the news coming out of Motorola in the last day or two. Q4 net income down 84 percent (!). Sales down 19 percent. New handsets delayed until the end of this year because, as far as I can tell, they have no idea how to grab back the market for whom the once iconic Razr (d.o.b. 2004) is now old hat.
From the FT:
Motorola's shareholders have grown used to disappointing news in the past year or so. But weak fourth-quarter results and another gloomy outlook from the handset maker on Wednesday prompted many to abandon altogether any hope of a bounce-back – Motorola’s already battered shares had fallen another 19 per cent by Wednesday's close.
Not a good week - or year - to be new CEO Greg Brown, then...