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β’Speak little, do muchβ’
Google sells Motorola smartphone business to Lenovo for $2.91 billion
In a surprise move, Google has today announced that it is selling Motorola Mobility to Lenovo for around $2.91 billion in cash and stock. Lenovo is expected to enter the US market with Motorola name. But Google has not completely sold Motorola to Lenovo. It still owns majority of Motorolaβs patents, and 2,000 patents and a license has been sold to Lenovo. Lenovo is going to pay Google around $660 million in cash and $750 million in stock. Google has already confirmed the deal.
In a statement, Googleβs CEO Larry Page said that:
Well back in 2012, when Google purchased Motorola Mobility for $12.5 billion, the company revealed that it was mainly interested in Motorolaβs patent portfolio instead of the headset business. And today Google is selling the Motorolaβs handset business to Lenovo.
Lenovo CEO Yang Yuanqing said that:
In a surprise move, Google has today announced that it is selling Motorola Mobility to Lenovo for around $2.91 billion in cash and stock. Lenovo is expected to enter the US market with Motorola name. But Google has not completely sold Motorola to Lenovo. It still owns majority of Motorolaβs patents, and 2,000 patents and a license has been sold to Lenovo. Lenovo is going to pay Google around $660 million in cash and $750 million in stock. Google has already confirmed the deal.
In a statement, Googleβs CEO Larry Page said that:
Well back in 2012, when Google purchased Motorola Mobility for $12.5 billion, the company revealed that it was mainly interested in Motorolaβs patent portfolio instead of the headset business. And today Google is selling the Motorolaβs handset business to Lenovo.
Lenovo CEO Yang Yuanqing said that:
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