Motorola splitting off its cell phone business
Motorola has announced that it will be splitting off its mobile phone business into a seperate company by 2009.
The move is seen as a way to acquiesce to the demands of major investor Carl Icahn and the split will leave Motorola as a company that makes TV set-top boxes, wireless equipment, public-safety radios and bar-code scanners.
Motorola CEO Greg Brown has this to say about the latest move. “The decision will provide improved flexibility, more tailored capital structures, and increased management focus - as well as more targeted investment opportunities for our shareholders.”
“Clearly there’s a lot more work to be done,” Brown added. “It will be a product-led recovery. We’re taking steps now to ensure and solidify that direction.”
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