WirelessWeek.com

According to reports, Carl Icahn has increased his stake in Motorola, becoming U.S.-based handset maker's third-largest investor. Icahn and his hedge funds owned a combined 64.9 million shares or 2.8% in the company at the end of June, but according to Bloomberg news, the activist investor held a 3.3% stake in the company, or 75.6 million shares by the end of September.

Earlier this year Icahn was campaigning for a seat on Motorola's board, calling for the resignation of CEO Ed Zander, as the handset makers profits continued to dip and the company lost market share to rival mobile phone makers.

Motorola recently posted its first profit in three quarters and gave a positive forecast, though Icahn is still calling for Zander's resignation should he fail to revive the company's mobile phone unit.

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