Motorola Earmarks $3.5 Billion for Handset Unit Spinoff
Motorola has said that it will set aside $3.5 billion for the handset and set-top box unit that it plans to spin off during the first quarter of 2011. Motorola will split its remaining businesses into two entities, with the phone and cable box business forming one, and its enterprise computing business forming the other. Motorola wants the freshly created mobile unit to have the best chance for success possible, so it will part ways with a $3.5 billion cash infusion earmarked for operations and acquisitions. Motorola's legacy business will assume all the existing debt and pension costs moving forward. Motorola has banked its mobile business' future success on Google's Android platform, and so far appears to be making a turn-around.
Lenovo to Slash 3,200 Jobs After Motorola Sales Slide
Lenovo today said it plans to reduce its headcount by as many as 3,200, or about 10%, as it looks to reduce expenses. The company reported earnings and said sales across its various business units dropped by 9% during the quarter.
Sony to Spin Off Camera Sensor Unit
Sony today said it plans to split its imaging sensor business from the rest of the company. The move is meant to help the unit remain competitive against OmniVision and Samsung, its chief rivals.
Lenovo Announces Layoffs, Remains 'Committed' to Motorola
Lenovo today announced a workforce reduction that will see close to 2% of the company's 55,000 employees losing their jobs. Most of the more-than-1,000 cuts impact Lenovo-owned Motorola.
Motorola President Rick Osterloh to Leave Lenovo
Lenovo today said Rick Osterloh will leave the company amid an internal reorganization. Osterloh has headed Motorola's efforts within Lenovo since the Chinese firm acquired Motorola from Google in 2014.
SoftBank, Sprint Majority Owner, to Split In Two
SoftBank today revealed a plan to separate itself into two separate companies, one for its Japan-based carrier business and another for its international operations, including Sprint. SoftBank's domestic business unit, which includes investments in Yahoo Japan, will be run by Ken Miyauchi.