Sure, it lost money for six straight quarters. And sure, it’s set to be split off (and presumably graced with a “for sale” sign) next year. And sure, it’s fallen into the No. 3 market share position with LG nipping at its heels to take that away. But the defiant, the feisty, the “rumors of my death are greatly exaggerated” Motorola Inc. handset division is hanging on: and the latest is that it got itself a high-profile head today.
Sanjay Jha, Qualcomm Inc.’s former head of operations, will take over the helm, reigning as co-CEO with Greg Brown. Qualcomm? That’s a good name to have associated with your device biz. Clearly: Wall Street rewarded Moto with an 11 percent jump.
The handset division is showing other signs of life as well; it was responsible for a surprising — some would say shocking — okay, we at xchange would say shocking — second-quarter profit, reported last week. And Brown has been making noise about finally releasing a device that can compete in the post-iPhone world — by Christmas. And most tellingly, brokers are saying things like, “well, maybe there’s life here.”
Bloomberg: Motorola Hires Jha From Qualcomm to Lead Phone Unit
Barrons: Motorola: With Jha Hiring, Street Turns Bullish
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