By Kate Hanaghan, 1 August 2001 13:29
NEWS Motorola has accepted some of the blame for its under-performance, but is still unable to provide forecasts for next year. The company has apologised to shareholders for its lack of growth and said it promises to do better. However, it also said that uncertainty within its own markets is making financial forecasts for next year very difficult. Chairman of the company, Christopher Galvin added that Motorola's stock price had suffered from five years of flagging growth and yesterday he told analysts: "We understand clearly that the issue has been largely us and the changes that have to take place have to take place within Motorola." The statement contrasts significantly with claims made by the company in May that US market conditions were wholly to blame for poor performance. In March of last year, Motorola's share price topped $59.10. It closed yesterday slightly down at $18.69
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