New York (dpa) – Motorola Mobility warned Friday that it would miss its quarterly financial targets by almost 500 million dollars, as its phone sales suffered from strong competition. The company, which is in the process of being bought by Google for 12.5 billion dollars, said that it expected revenues of 3.4 billion dollars over the crucial holiday season, as compared to earlier guidance of 3.88 billion dollars. Motorola estimated that it sold 10.5 million phones in the quarter, down about 10 per cent from last year. But sales of higher-margin smartphones rose from 4.9 million to 5.3 million units, the company said. Motorola's disappointing results came the same day as rival Samsung announced its highest ever profit thanks to stellar sales of its smartphones, which also run on Google's Android operating system. BM ShortURL: http://goo.gl/6p77M Tags: Mobile Phone, Motorola, Sales Section: Business, Tech
