Motorola eyes split into two in January

Wednesday, 17 November 2010 01:07 - - {{hitsCtrl.values.hits}}

New York (Reuters): Motorola Inc is aiming to separate the company into two separate entities as soon as January, according to Greg Brown, its Co-Chief Executive.

The company had previously said it would separate the company in the first quarter into two parts: Motorola Mobility, which will sell mobile handsets and television set-top boxes, and Motorola Solutions, which will supply wireless technology to governments and enterprises.

Brown, who will head Motorola Solutions, said on Monday that he expects that business to grow in a range of four per cent to five per cent in 2011 and set a long-term growth target of five per cent to eight per cent.

The executive, who was speaking at the first Motorola Solutions investment conference, also said he expects the business to have an investment-grade rating at separation and vowed to consider dividend payments after the split.