Motorola splits into two companies

5 Jan 2011

Motorola has formally divided up into two separate trading companies: Mobility, which will focus on consumers, and Solution, which will be geared towards professionals.

Motorola Mobility began trading on the New York Stock Exchange (NYSE) under the ticker symbol MMI yesterday.

According to Motorola Mobility, its interests will comprise its mobile devices business, concentrating on smartphones. In 2010, it launched 23 smartphones globally, including Droid, Bravo, Defy, Flipside and Milestone.

Meanwhile, Motorola Mobility’s home business will continue to provide digital set-top boxes and end-to-end video solutions.

The company says it will also look at leveraging interactive cloud-based services to consumers in the home and on the go.

“We are well-positioned to build on the strong momentum we have in smartphones and end-to-end video solutions – and to take advantage of opportunities resulting from the convergence of media, mobility, computing and the internet,” said Sanjay Jha, chairman and CEO of Motorola Mobility.

Motorola Solutions

Motorola Solutions also began trading yesterday on the NYSE under the ticker symbol “MSI.”

It will concentrate on business- and mission-critical communications solutions for commercial enterprises and government customers.

“With a purpose-driven brand and a strong balance sheet, we are very well positioned for the future,” said Greg Brown, president and CEO of Motorola Solutions, yesterday.

Brown and members of the Motorola Solutions management team rang The Closing Bell at the NYSE yesterday in honour of the initiation of Motorola Solutions’ first day of trading.

Carmel Doyle was a long-time reporter with Silicon Republic