Motorola to split in two
Motorola is set to split itself into two independent, publicly traded companies next year. The move will create two entities: Mobile Devices; and Broadband & Mobility Solutions.
According to Motorola president and ceo Greg Brown, pictured: “Creating two industry leading companies will provide improved flexibility, more tailored capital structures and increased management focus.”
Motorola has been struggling in the mobile phone market, despite the apparent success of the Razr phones. Brown noted: “We remain committed to improving the performance of our Mobile Devices business by delivering compelling products that meet the needs of customers and consumers around the world. As part of that effort, we have undertaken a global search for a new chief executive. We … expect that the Mobile Devices business will be well positioned to regain market leadership as a focused, independent company.”
Meanwhile, the Broadband & Mobility Solutions business will handle the remainder of Motorola’s communications interests.
