The Company had an operating cash outflow of $343 million and ended the quarter with a net cash* position of $3.5 billion.
“During the first quarter, we made an important strategic decision to separate the Company, creating two independent, publicly traded entities," said Greg Brown, president and chief executive officer. “Improving the product portfolio in Mobile Devices and positioning both businesses for future success remains a top priority. Our Home and Networks Mobility and Enterprise Mobility Solutions businesses continue to expand their portfolios of solutions, grow internationally and deliver solid financial results.”
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