NEW YORK (AP) -- Consumer-electronics pioneer Motorola Inc. is formally splitting into two companies. One is for its consumer-oriented businesses such as cell phones, and the other for police radios and other products targeted at professionals.
During early trading Tuesday, shares of the consumer-focused Motorola Mobility Holdings Inc. climbed $3.40, or 11.7 percent, to $32.50, while its other business, Motorola Solutions Inc., gained 10 cents to $37.25.
The shares are trading on the New York Stock Exchange with the ticket symbols MMI and MSI, respectively.
Although Motorola began by making car radios, TVs and cell phones, the company has since expanded into police radios and barcode scanners aimed at government agencies and large businesses. The breakup is motivated by the desire to present two simple businesses to investors rather than one complicated one.
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