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Motorola Postpones Device Spinoff

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Oct 30, 2008, 7:51 AM by Eric M. Zeman
updated Oct 30, 2008, 9:14 AM

Motorola posted its third quarter results today, which show the company lost nearly $400 million. Due to the loss, Motorola has decided to postpone the planned spinoff of its mobile phone division. The spinoff was originally slated to happen by the third quarter of 2009. Motorola sold 25.4 million cell phones in the third quarter, down from the 28.1 million it sold in the second quarter. The cell phone unit lost $840 million on $3.1 billion in revenue for the quarter. Motorola did not say when the planned spinoff would occur.

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