SCHAUMBURG, IL – Lenovo yesterday said it plans to sell its failing mobile phone business for $100 million to a private equity firm under its parent, Legend Holdings.

Meanwhile, Motorola said it is exploring the restructuring of its businesses as an attempt to restore its handset division. The company is considering alternatives, one of which is to separate the mobile phone business from other units.
 
Until its board has made plans, the company said it would not discuss further actions.
 
Motorola’s sales of handsets slipped last year. Its popular Razr still sells, but brings in little profit, published reports say.

Last week, the company reported an 84% drop in profits for the fourth quarter.