Sanjay Jha, CEO of Motorola and migrant from Qualcomm Inc last year, appears to be working some minor miracles at one of the oldest, most mature mobile phone manufacturer’s in the United States. Seems as though the market is betting on the anticipated popularity of Droid mobile phones being released this holiday season.
In the three-month period that ended Oct. 3, Motorola earned $12 million, or a penny per share. That compares with a loss of $397 million, or 18 cents per share, in the same quarter a year ago.
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Jha said he expects an uptick in mobile revenue over the last three months of the year and into 2010, when the mobile phone division should begin to break even. Sales of more profitable smart phones should drive the improvement, even as Motorola’s overall volume of shipments is likely to decline.