Motorola targets 1st quarter of 2011 to complete spinoff of handset, home units

Motorola targets 1Q 2011 to split off handset unit

SCHAUMBURG, Ill. — Motorola says it plans to split off its handset division and a home-business unit that makes television set-top boxes into a separate publicly traded company in the first quarter of 2011.

Motorola Inc. said in late 2008 that it would spin off only its handset unit by the third quarter of 2009, but later said it couldn’t meet that deadline. In Thursday’s announcement, Motorola said it would now be including the home-business unit in the company being spun off.

Motorola CEO Sanjay Jha will serve as the chief executive of the handset and home business. He says the new combination is beneficial and “brings together two highly complementary and innovative organizations.”