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The long-planned breakup of Motorola is now a reality.
The two new companies both began trading this morning on the New York Stock Exchange, Motorola Mobility Holdings under the ticker MMI and Motorola Solutions as MSI.
Motorola Mobility gets the more consumer-focused lineup of mobile phones and set-top boxes, and it begins independent life riding a surge of success for the company's Android-based smartphones. In the third quarter of 2010, the unified Motorola posted an operating profit ($3 million) for its mobile devices unit for the first time in about four years, as the company shipped 9.1 million phones, including 3.8 million smartphones.
"We are pleased that Motorola Mobility has reached this important milestone. After more than two years of planning, today we begin operating as a financially strong, independent company trading on the New York Stock Exchange," said Sanjay Jha, chairman and CEO of Motorola Mobility, in a statement.
In initial trading this morning, shares of Motorola Mobility were up about 9 percent from yesterday's closing price to around $33.
Motorola Solutions, meanwhile, will focus on enterprise and network business products.
The plan to separate a then-struggling Motorola into two companies was made public in March 2008.
Online Business Consulting | Internet Business Consulting
The two new companies both began trading this morning on the New York Stock Exchange, Motorola Mobility Holdings under the ticker MMI and Motorola Solutions as MSI.
Motorola Mobility gets the more consumer-focused lineup of mobile phones and set-top boxes, and it begins independent life riding a surge of success for the company's Android-based smartphones. In the third quarter of 2010, the unified Motorola posted an operating profit ($3 million) for its mobile devices unit for the first time in about four years, as the company shipped 9.1 million phones, including 3.8 million smartphones.
"We are pleased that Motorola Mobility has reached this important milestone. After more than two years of planning, today we begin operating as a financially strong, independent company trading on the New York Stock Exchange," said Sanjay Jha, chairman and CEO of Motorola Mobility, in a statement.
In initial trading this morning, shares of Motorola Mobility were up about 9 percent from yesterday's closing price to around $33.
Motorola Solutions, meanwhile, will focus on enterprise and network business products.
The plan to separate a then-struggling Motorola into two companies was made public in March 2008.
Online Business Consulting | Internet Business Consulting