Motorola, Qualcomm release financial results

Wireless giants Motorola Inc. (NYSE:MOT) and Qualcomm Inc. (NASDAQ:QCOM) announced financial results this week.
Schaumberg, Ill.-based Motorola reported a loss of $51 million on revenues of $22 billion in 2009. All figures are in U.S. currency.


But wireless components maker Qualcomm Inc. of San Diego announced its quarterly profit more than doubled.


Motorola cut its losses from 2008, when it lost $4.2 billion on revenues of $30 billion.


Qualcomm's net income was $841 million for the three months ending Dec. 27, 2009, up from $341 million for the quarter ending Dec. 28, 2008.


Motorola, which has $3.365 billion in long-term debt, is cutting costs. The firm spent $793 million on research and development in 2009, down from $1 billion a year earlier.


In a press release announcing the results, Motorola touted six of its smart phones with Google Inc.'s Android operating systems.


“Our first Android smartphone devices have been very well received,” stated Sanjay Jha, Motorola’s co-chief executive officer. “We look forward to broadening our handset portfolio in 2010 with the launch of at least 20 smartphone devices round the world and continued evolution of our Motoblur service.”


Qualcomm sells components for wireless device manufacturers using the code division multiple access (CDMA) standard. Chipsets include Snapdragon, which includes a 1 GHz processor and support for Wi-Fi and cameras.

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