Motorola ends mobile sell off
The price ain't right
Motorola is ending the search for a buyer for its set top box and networking business, because it cannot find anyone willing to pay enough for the unit.
The company has spent the last two years trying to sell off its handset business, which has had a rotten few years, as well as its set-top box and networking division.
But bids for the set-top unit all came in the range $3bn to $4bn - rather than the $4bn to $5bn the firm was seeking. This shortfall, alongside better handset sales, has led the company to consider keeping the units under one umbrella, according to The Wall Street Journal.
The next round of bids were due in mid-February, but this could be cancelled - Motorola's board of directors will meet shortly to decide whether the sale goes ahead or not.
Any decision could see the sale put on hold for a few months, or stopped altogether.
Motorola has seen its previously decent market share for handsets shrink thanks new players like Apple and stronger competition from the likes of Samsung. ®