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Motorola Wants Partner for Unit
Posted: 08-May-2002 [Source: Reuters]

[Motorola in search of a partner for its wireless infrastructure business in an effort to return to profitability.]

by Ben Klayman and Yukari Iwata, Rosemont, Ill -- "Wireless technology giant Motorola Inc. said on Monday it wants a partner for its wireless infrastructure business, as Motorola works to return to profitability in the third quarter.

"It's very clear that we'd like to be partnered closer to somebody that has the switch or the core of the network," Edward Breen, the Chicago area-based company's president and chief operating officer, said at the annual shareholders' meeting of the unit.

"We'll not be out if we don't get a partner though we'll have a tougher period," he told about 600 investors at a theater in a Chicago suburb.

Breen said Motorola will take its time to make the right decision concerning the unit, which reported a $1.4 billion loss last year.

Over the past year, Motorola has reportedly talked with Canada's Nortel Networks Corp. and Germany's Siemens AG (news - web sites) to sell or link its wireless infrastructure equipment unit with another company's.

Motorola previously has said it is talking with everyone in the industry, but declined to give further details.

Breen also said on Monday that Motorola expects to finish taking one-time charges for its restructuring in the next three to five months."


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