Ongoing legal battles over patents and tough competition are hurting Motorola's sales and profits, the company said Friday.
After the market closed on Friday, the company reported that sales fell short of expectations in the fourth quarter of 2011. The company estimates sales of about $3.4 billion for the quarter with modest profitability on a non-GAAP basis. Analysts had expected the company to bring in sales of $3.9 billion, according to Reuters.
Motorola blamed increased competition in the mobile device market as well as raging patent wars, primarily with Apple. The company also said it shipped about … Read more