LOS ANGELES - Struggling technology company Motorola Inc. said yesterday it plans to split in two early next year - with one half containing its consumer-focused mobile phone and television set-top box products, and the other holding divisions that target business customers.
The split will give current shareholders a share in each new company, which will be roughly the same size in terms of annual revenue at $11 billion. Both halves will be publicly traded.
Motorola, based in Illinois, rode high for a few years after introducing the wildly popular Razr flip phone in 2005, but as the phone’s popularity faltered, the company struggled to develop a worthy successor and losses piled up in its mobile-phone division.
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