Motorola presented its rather bad financial numbers for the fourth quarter. Although, the company did its best and they Motorola sold a record 65.7m phones in the quarter. The financial figures show a 17% surge in revenue but a 48% drop in net income. The evident reasons for this situation were tumbling handset prices. Consider that the average price for a Motorola phone was $119.
Having such a situation for the present Ed Zander, Motorola's CEO, said to have a plan to cut 3,500 jobs which save the company $400m over the next two years, also it was mentioned that the company is ramping up its 3G lineup and expects handset prices to move upward in 2007.