Motorola appears to be perfectly poised for a turnaround - not only has the handset maker surprised the Wall Street with a third-quarter profit on Thursday, it is also soon launching two new Android phones, Cliq from T-Mobile and Droid from Verizon, and expects a better-than-anticipated profit in the current quarter!

Overturning a third-quarter last-year net loss of $397 million, Motorola posted a $12 million profit for the third quarter this year, despite the fact that the company's quarterly revenue at its two key units tumbled from $7.48 to $5.4 billion this year.

The operating loss at the company's phone unit stood at $183 million for the reported quarter, vis-à-vis the $840 million operating loss the year before; and the $253 million operating loss in the second quarter.

However, though the Motorola phone shipments dropped to 13.6 million in the third quarter, from the year-before figures of 25.4 million, the company still projects a fourth-quarter operating earnings of 7 to 9 cents per share, as against the average analyst estimates of a 6-cents operating earnings' figure.

In his statement, Sanjay Jha, Motorola's co-CEO and its Mobile Devices unit's CEO, said: "We have delivered our "commitment to improve the financial performance of Mobile Devices and to commercially launch two smartphones in time for the fourth-quarter holiday season. The introductions of our new products powered by Android are important milestones."