posted a wider loss and may lose more money this quarter than analysts estimated, hurt by a lack of new mobile phones to compete with Apple Inc. and Nokia Oyj.The stock declined 3.1 percent after Motorola, the largest U.S. mobile-phone maker, said its first-quarter net loss expanded to $194 million, or 9 cents a share. Revenue fell to the lowest level in four years, trailing estimates.
Phone shipments plunged 40 percent as Motorola’s Razr 2 and Z8 failed to keep buyers away from Apple’s iPhone and a Nokia handset that has satellite-navigation. Chief Executive Officer Greg Brown, bowing to pressure from investor Carl Icahn, decided last month to spin off the handset unit to focus on TV set-top boxes, two-way radios and wireless-networking equipment.