One week after Motorola CEO Greg Brown announced plans to spin-off Motorola's handset business, the chairman of India's Videocon said that the company will make a bid for Motorola's business. "We will be bidding for Motorola's handset business, but at this point of time I cannot give out the price or the value of the bid," Chairman Venugopal Dhoot of Videocon told Dow Jones Newswires in an interview.
The broad strokes of Motorola's strategy are simply to spin-off the handset business to create two independent and publicly traded companies: Mobile Devices and Broadband & Mobility Solutions, which describes the enterprise business and the home networking business. Brown said the hunt is still on for a handset unit head, but now the position will come with a CEO title. Motorola plans to make the move some time in 2009--that is, if a buyer doesn't come along in the meantime.
For more on the Videocon bid:
- read this report [1] from Dow Jones
Links:
[1] http://money.cnn.com/news/newsfeeds/articles/djf500/200804010504DOWJONESDJONLINE000173_FORTUNE5.htm