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Thread: Google selling Motorola phone business to Lenovo

  1. #1
    Franc Tireur is offline Senior Net Builder
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    Google selling Motorola phone business to Lenovo

    Google is selling Motorola's smartphone business to Lenovo for $2.9 billion, a price that makes Google's biggest acquisition look like its most expensive mistake. The deal announced Wednesday will rid Google of a financial headache that has plagued the Internet company since buying Motorola Mobility for $12.4 billion in 2012. Motorola has lost nearly $2 billion since Google took over, while trimming its workforce from 20,000 to 3,800.

    While Google is reversing courses, China's Lenovo Group is gearing up for a major expansion. Already the world's largest maker of personal computers, Lenovo now appears determined to become a bigger player in smartphones as more people rely on them instead of laptop and desktop computers to go online.
    It also marks Lenovo's second high-profile deal this month. The company announced plans last week to buy a major piece of IBM's computer server business for $2.3 billion.
    Google selling Motorola phone business to Lenovo

    Google didn't make a great acquisition. How a big multi national corporation can make huge mistake like this?
    Those who can make you believe absurdities can make you commit atrocities.

    Voltaire


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    robjones is offline Trail Boss
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    I thought we'd given up expecting big corps to make only wise decisions watching AOL systematically punt their dominance of the internet.
    -- Do not meddle in the affairs of dragons, for you are crunchy and good with ketchup. --

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