Motorola reports $397M in Q3 losses, investors’ cringing muscles too tired to do anything

Ow. Motorola (NYSE: MOT)’s third quarter numbers are pretty rough, reporting $7.48 billion in sales, down nearly $400 million from a $8 billion in Q2. Although mobile devices in particular were down 31% from last year to $3.1 billion, Moto has the Krave and Aura to help them out for the holidays, and potentially a social networking Android handset sometime soon. Heavy restructuring may also help Moto in the long run, but right now things look less than awesome; sub-awesome, you could say. Of course, ongoing recession fears aren’t helping anybody these days, and as a result, plans to spin off the mobile division in Q3 next year have been held off until things stabalize.

[via Motorola]