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Motorola renames ahead of handset spinoff

05 июля 2010

Motorola has unveiled plans to rename its businesses following the separation of its devices and set-top box units into a wholly-owned subsidiary, which is set to take place during the first quarter of 2011.

The company's Mobile Devices and Home businesses will be known as Motorola Mobility, and will be headed up by Motorola's co-CEO Sanjay Jha.

"Mobile Devices has made significant progress in 2010, and we are confident that the separation is the right strategy for Motorola, our stockholders, our customers, our partners and our employees," said Jha, in a statement on Thursday.

Indeed, Jha has been optimistic about the fortunes of Motorola's ailing handset business, which has focused on a slew of high-end Android-powered smartphones to spark its revival.

Its most recent devices, particularly Droid, have been well-received by critics and consumers, and the company expects its mobile phone division to return to profitability by the fourth quarter of 2010.

The functional separation of Motorola's handset unit will leave Greg Brown – Moto's other co-CEO – in charge of the company's Enterprise Mobility and Networks divisions, which will be renamed Motorola Solutions.

"Motorola Solutions will be a world-class company composed of two great businesses," commented Brown.

"We expect the separation will further enable [Enterprise Mobility and Networks] to address the needs of our customers and partners around the world," he said.

Motorola said it expects to separate into two companies during the first quarter of 2011.

"We are very pleased with the significant financial and operational progress that Greg's and Sanjay's businesses have accomplished," said a statement from David Dorman, chairman of Motorola's board.

"Upon separation both businesses will be well capitalised and poised for standalone success," he said.

Completion of its separation plan is subject to approval by its board of directors as well as the IRS.

Источник: Total Telecom

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