Schaumburg, Ill. -
will split into two independent publicly traded companies on Jan. 4, and both entities will carry the Motorola name.
The long-planned split, designed to unlock shareholder value, will create Motorola Mobility Holdings and Motorola Solutions. The former will market cellphones, portable navigation devices, home set-top boxes, cable modems and infrastructure for cable operators. The latter will market such products as electronics and communications equipment for enterprises, government and public safety agencies worldwide.
Both new companies will trade on the New York Stock Exchange.
In a prepared statement, the company said its announcement "marks another important milestone toward the upcoming separation that is expected to benefit Motorola, its stockholders, as well as each company's respective customers and employees."