Motorola plans to split into two separate companies by early next year, with a combined handset and set-top box unit being spun off as a seperate public company.
The wireless networking business and the enterprise radio systems operations will comprise the other company.
The mobile handset and set-top box business will own the brand and will licence it to the other company on a royalty-free basis.
This is according to an article in the New York Times which reports that the split will divide Motorola into smaller, more focused operations.
The two companies would each account for about half of Motorola's $22-billion in 2009 sales.
The transaction is expected to be completed during the first half of 2011.