The second cell division in Meiosis is known as Meiosis II. Meiosis II is very similar to Mitosis.
The haploid products produced at the end of Meiosis II go on to differentiate in quite complex ways to produce the recognizable sexual gametes; the sperm and eggs. Basically a very useful process for reproduction.
In other organisms, the haploid products produced at the end of Meiosis II are packaged and then released as independent.