Growing as fast as Hewlett-Packard Co up to the end of last year, Motorola Inc plunged into the buffers really hard in the second quarter (CI No 2,952), with profits plunging on revenue marginally lower. Motorola said profits were hit by weakening demand and pricing pressures in chips – and pricing remains competitive in the paging and cellular telephone businesses, where we are committed to remain a price leader to enhance market growth, it said. It also noted that order booking relating to the Iridium global communications system was delayed in the second quarter pending completion of a short-term credit facility currently being negotiated by Iridium Inc.
