“In the Mobile Devices segment, we launched ten new products and maintained market share, compared with the first quarter, while continuing to invest in our product portfolio. We also made progress on our plans to separate Motorola into two independent, publicly traded companies, generated positive operating cash flow and reduced our cost structure,” said Greg Brown, President and CEO of Motorola in a release announcing the company’s second quarter results.

The company might say that the results were better than their expectations but the situation continues to look grim for its mobile device unit. The unit posted losses of $346 million as against $332 million in the second quarter of last year. Even its sales have gone down by 22 percent from last year as the unit shipped 28.1 million devices in the second quarter.

The company has its hopes pinned on a few high-end multimedia devices like the ZN5 and Rokr E8, while there is speculation of an 8 megapixel camera phone slated for the third quarter that would decide the fate of Motorola as a global handset vendor.

You can read the complete result statement here.