Motorola to split into 2 companies

Motorola said Wednesday it would split into two publicly traded entities to separate its money-losing handset division from its other businesses. The company's shares rose more than 10 percent, reports the IHT.

"Motorola has been losing handset market share and is now ranked third in the world. The two entities it plans to split into are Mobile Devices and Broadband & Mobility Solutions. The latter consists of its network equipment, enterprise and public safety businesses.

It said the creation of two companies would improve flexibility, increase management focus and provide more targeted investment opportunities for shareholders."

Related: - Motorola insider tells all about the fall of a technology icon (Engadget)

emily | 9:37 AM | News, Buzz |
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