Motorola (NYSE: MOT) announced Thursday that the company will split into two companies in early 2011, according to Associated Press.
The company said that one unit will contain its consumer-focused mobile phone and television set-top box products, and the other will target business customers.
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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.
The move gives the company's two co-CEOs, Sanjay Jha and Greg Brown, separate companies to run. Jha will concentrate on Motorola's entertainment and consumer-oriented devices, including smart phones like the Droid.
Brown will focus on the enterprise mobility and networks businesses, which include handheld devices for warehouse workers, bar-code scanners, and devising ways to enable cable and Internet connections.
The current separation is planned for the first quarter of 2011.
Both halves of the company will continue to use the Motorola brand, with the mobile device side owning it and licensing it royalty-free to the other.
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