"We are exploring ways in which our mobile devices business can accelerate its recovery and retain and attract talent while enabling our shareholders to realize the value of this great franchise," announced Greg Brown, Motorola president and CEO, in a statement yesterday. Translation, according to industry insiders: Moto's cellphone business is basically up for sale - in the wake of Motorola Inc's significant losses for Q4 and full-year 2007.

"All of our businesses have exceptional people, products and intellectual property and the ability to achieve category leadership in their markets," Brown added.

"We believe Motorola is finally moving in the right direction but certainly still has a long way to go," chirped Carl Icahn, who last year launched a proxy battle bid for Motorola Inc. board seats and a drastic overhaul of the business.

The announcement by Motorola would not deter him from repeating the exercise, however, Icahn added. So another proxy battle looms.

Moto's Q4 results were horrible: the company's profit fell 84%, and handset sales were down 38%.