Motorola’s Chief Financial Officer Tom Meredith did not rule out a break-up of the company as he affirmed the mobile manufacturer’s earnings guidance for the fourth quarter. “I believe there’s every opportunity for us to create significant economic value as a whole,” he told an investor conference Webcast. “Does that mean other options aren’t viable? Not at all.”

The comments follow a statement last week from investor Carl Icahn – who has a stake in the company – in which Icahn advocated breaking up Motorola into four separate divisions: mobile devices, network infrastructure, public safety and enterprise. Icahn’s remarks were made as a response to the announcement of the departure of CEO Ed Zander. Prior to Zander’s move the company had been losing market share to rivals in recent quarters.