Mobile, Quarterly Earnings | featured news

The evidence continues to mount that the mobile phone business is evolving into a two-horse race. It’s Apple, Samsung, and a host of desperate hangers on. In the first quarter, according to Raymond James analyst Tavis McCourt, Apple accounted for about 80% of all profits in the mobile phone business, with Samsung accounting for the rest. The two companies combined, he figures, had 74% of mobile handset industry revenues.

While the company's new Lumia line of smartphones is gaining traction, those using the older Symbian operating system have lost their appeal.

Moody's ratings agency downgraded Nokia's debt grade to near junk status on Monday, citing a sharp decline in first-quarter cellphone sales that led to a 35 percent fall in revenue.

In the third quarter of 2011, Samsung was the king of the smartphone world, with one report showing the domination of the manufacturer overtaking Apple's global reign.

Motorola Mobility this afternoon posted better-than-expected Q1 results. For the quarter, the company reported revenue of $3 billion and a non-GAAP loss of 8 cents a share; the Street had expected $2.84 billion and a loss of 12 cents a share. The company said it sold 9.3 million mobile devices in the quarter, including 4.1 million smart phones, and more than 250,000 tablets. Revenues were up 22% from a year ago.

Motorola's mobile phone division reports a quarterly profit for the first time in more than three years.

AT&T reported a 26% increase in second-quarter earnings amid an investment gain, lower costs and fewer customer defections.

Apple on Tuesday reported a $3.25 billion profit for its fiscal third quarter of 2010.