How the mighty have fallen. After putting a RAZR in near every pocket they could find, Motorola has finally beaten its horse to death and today announced they will be splitting into two publicly traded companies, effectively spinning the failing mobile phone division off from the rest of business. MOTO CEO Gregory Brown tried to spin things this way, but I'm not sure who's buying it:
"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.?
Brown was apparently under heavy pressure from primary investor Carl C. Icahn, who owns more than 6% of the company, to spin off and sell the handset division, which has been losing market share and coming under heavy criticism as of late from pundits and former employees alike. Looks like that's what Brown's aiming to do, and now the speculation can begin as to who might be looking to pick up the one-time king of cell phones at a bargain basement price.
Read more on the developing story on RCR News.