Motorola vows to jump out of slump

Motorola executives pledged to break the company out of its deep slump by rolling out a series of innovative new cell phones rather than a 'one-hit wonder' like the Razr, an Associated Press report said.

The Associated Press report quoted company officials as promising some announcements next month.

On the defensive after a year of turmoil and subpar sales, Motorola's leaders said they continue to cut costs even with its share of the world handset market down to 14.6% from 21.9% a year ago, according to Gartner.

The Associated Press report also said Motorola's handset unit, its largest, has been struggling after more than two years of phenomenal Razr sales that fell off sharply starting last year. Earlier this year, the Schaumburg, Ill.-based company warned the mobile phone segment will be unprofitable until at least 2008.

Motorola is in the process of introducing the Razr 2, although it is not expected to come anywhere near the success of the original phone, the report said. The market is now dominated by Apple's iPhone.

The company has also disclosed plans to trim 7,500 jobs and $1 billion in costs as it tries to recover from a botched strategy of flooding emerging markets with lower-priced phones in order to gain market share.

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