3/26/2008 4:12:00 PM
Motorola breaks into two companies
Motorola has finally decided to separate the struggling handset division from the rest of the business, the company announced today. There has been much speculation over Motorola splitting the business into two after it revealed that the mobile phone division was on a downward spiral.
One of the two new publicly traded companies will concentrate on the mobile phones and accessories business, while the other will focus on wireless broadband and enterprise communications products.
‘Creating two industry-leading companies will provide improved flexibility, more tailored capital structures, and increased management focus – as well as more targeted investment opportunities for our shareholders,’ CEO Greg Brown said in a prepared statement.