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Motorola sees huge increase in profit thanks to smartphones, network equipment division

Written by Andre Yoskowitz (Google+) @ 29 Jul 2010 12:53

Motorola sees huge increase in profit thanks to smartphones, network equipment division Motorola has reported a 600 percent increase in profit for the Q2, thanks mainly to its network equipment division and continued strong smartphone sales.
Droid smartphones, including the original Droid and new Droid X, continued strong sales, and both are well received, critically.

Both devices are sold through Verizon Wireless, the U.S.' largest carrier.

Most of the quarterly profit came from the company's networks equipment unit, which Motorola plans to sell to Nokia Siemens for $1.2 billion.

Overall earnings came to $162 million, up from $26 million last year.

Motorola shipped 2.7 million smartphones during the quarter with 14 million expected for the full year. Co-CEO Jha says he expects the phone business to be profitable by the fourth quarter, for the first time in four years.

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