7/2/2010 10:23:00 AM
Motorola to rename mobile business
Motorola will rename its businesses as Motorola Solutions and Motorola Mobility after its proposed split in the first quarter of 2011.
Motorola Mobility will comprise the company's mobile devices and set-top box business, while Motorola Solutions will include its enterprise and network equipment unit.
The company will pump the bulk of its remaining cash into its handset and set-top box business when it spins off the unit in the first quarter of 2011, according to the Wall Street Journal.
It is understood that that the company will buy back most of its debt, which stands at around $3.9bn, and will give the mobile phone unit $3bn to $4bn of its cash.
The company's mobile unit has been struggling to compete with new smartphones and has not had a hit device since the Razr in 2004.