Motorola handset spinoff to happen in 3Q 2009

Tag : Cell Phone Conference Call

The company had previously only said that it expects the spinoff tobe completed some time next year. Chief Financial Officer PaulLiska provided the update in a conference call with investorsThursday after the release of second-quarter results.
The cell-phone unit has been losing money for years, as the companyhas struggled to make a phone that could match the popularity ofits Razr a few years ago. The company announced the spinoff inMarch.
The handset unit posted a small increase in sales from the firstquarter to the second, indicating that it may be reversing its longslump, but Liska reaffirmed the company's commitment to spinning itoff.