Google may be rumored to be ditching the hardware side of Motorola, but that doesn't mean Motorola are sitting around crying in the corner. No, nothing of the sort here: they seem to be actually working on brand new products.
The name of this product, Droid RAZR HD, has been leaked out from the EXIF data from a series of photos uploaded by a purported Motorola employee. The photos were uploaded to Picasa, and are listed as being uploaded by Vic Yu, who according to his Google+ and LinkedIn page is an engineer and program manager at Motorola Mobility.
Not only is the product name shown, but we know details of the camera itself: it sports an f/2.4 aperture and a focal length of 5mm. The software version listed is Ice Cream Sandwich build 4.0.3 and could have a product codename of "Vanquish". We should note that EXIF data can be faked, so the usual TweakTown-branded Salt should be thrown around here.