Motorola Mobility Holdings Completes Spinoff from Parent Company

By Cindy Waxer January 04, 2011

It’s official. Motorola Mobility Holdings has completed its spinoff from parent company Motorola. Shares of the company began trading on the New York Stock Exchange under the ticker symbol MMI. Parent company Motorola is now known as Motorola Solutions.

Motorola Mobility now comprises two distinct units: Mobile Devices provides smartphones. In fact, last year alone, the division launched 23 smartphones globally, including the family of DROID devices, as well as Bravo, Defy, Flipside, Milestone, among others. The Home unit provides digital set-top boxes and end-to-end video solutions.

“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. “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.”

“With more than 20,000 employees globally, 24,500 patents granted and pending, and a highly recognizable brand, we are able to deliver cutting-edge devices with differentiated software experiences. In addition, we will continue to work aggressively to capitalize on the next generation of converged devices and experiences to provide consumers with more intuitive and personalized services,” Jha added.

Last month, as Motorola prepared to divide itself into two entities, TechZone360.com reported that Motorola’s mobile division expected to see a loss in the first quarter of the fiscal year. Speaking with analysts, Jha said, “We expect a loss in mobile devices in 1Q," according to a report from the AFP news service. Still, Jha was positive overall and said the first quarter numbers would be "significantly improved from a year ago," AFP reported. He added that the current quarter is "proceeding quite well."

Jha predicted strength in fields like smartphones and tablets, according to a report from All Things Digital. 




Edited by Tammy Wolf

TechZone360 Contributing Editor

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