Subject: [NEXTEL-1] Motorola Zeroes In On Communications, Spins Chip Biz

From: [email-masked]
Date: Mon, 06 Oct 2003 14:20:39 -0400

Motorola Zeroes In On Communications, Spins Chip Biz
BY SUSAN RUSH
OCTOBER 6, 2003

The waves of change are already beginning to crash on Motorola shores. The company
is making a shift, announcing plans to spin off its semiconductor business so it
can concentrate on the communications sector.

"Over the past several months, we have carefully weighed the best way to optimize
the long-term potential of Motorola's semiconductor business with the leverage we
would gain by concentrating our resources on our communications products and
electronic systems businesses," Motorola's outgoing CEO Christopher Galvin said in
a statement.

Although the details of the spinoff have not been finalized, Motorola plans to
make the chip unit into its own publicly traded company.

News of the spinoff ignited Motorola's shares. The company's stock hit a new
52-week high of $13.19 in mid-morning trading. Motorola shares were boosted a few
weeks ago when Galvin announced his retirement to make way for a new Motorola.

Once the chip unit is out on its own, Motorola will be left with five divisions:

Personal Communications Sector; Global Telecom Solutions Sector; Commercial,
Government and Industrial Solutions Sector; Integrated Electronic System Sector;
and Broadband Communications Sector. Last week, Motorola predicted its
third-quarter handset sales would increase by at least 20 percent compared with
the second quarter.
http://www.wirelessweek.com/index.asp?layout=newsat2direct&starting=1&pubdate=10/06/03

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