Motorola today announced that it had commenced a process to split itself into two seperate companies: a mobile device business and a broadband and mobility solutions business (reflecting current divisions within the company). The move seems likely to avoid a direct sale of the mobile device business, but a joint venture with another company remains a distinct possibility.

The move is likely to give the mobile device business greater flexibility in negotiating with potential partners and inidcates that Motorola is very serious about restructuring the company.

More information in the full press release:

“Our decision to separate our Mobile Devices and Broadband & Mobility Solutions businesses follows a review process undertaken by our management team and Board of Directors, together with independent advisors,” said Greg Brown, Motorola’s president and chief executive officer. “Creating two industry-leading companies will provide improved flexibility, more tailored capital structures, and increased management focus – as well as more targeted investment opportunities for our shareholders.”