Motorola may launch as many as 10 smartphones in the second half of the year, compared to just one in the first half, according to a research note by an analyst at Oppenheimer & Co.
The company saw its shares lift Wednesday after the note by analyst Ittai Kidron was made public. "With sentiment at an all-time low and investors' attention lost, we believe Motorola warrants another look," Kidron wrote. "Given limited downside to the stock, we're bullish on Motorola." Kidron said that Wall Street, which has essentially written off Motorola's ailing handset division's chance of recovery, has underestimated the company's cost-cutting measures. Oppenheimer also said that Motorola's pace of handset production is accelerating.
In early February, Motorola posted a net loss of $3.6 billion. The company's mobile devices units had sales of $2.35 billion, down 51 percent compared with the year-ago quarter. The company shipped 19.2 million handsets in the fourth quarter, down 53 percent from the 40.9 million in the fourth quarter of 2007.
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