This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-25956284
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Google sells Motorola Mobility unit to Lenovo for $3bn | Google sells Motorola Mobility unit to Lenovo for $3bn |
| (about 3 hours later) | |
| Google has sold Motorola Mobility to Chinese computer maker Lenovo for $2.91bn (£1.8bn), in a surprise move. | Google has sold Motorola Mobility to Chinese computer maker Lenovo for $2.91bn (£1.8bn), in a surprise move. |
| Google bought the struggling US mobile phone company for $12.5bn in 2012. | Google bought the struggling US mobile phone company for $12.5bn in 2012. |
| Google will keep several lucrative patents, including the Android smartphone and tablet software. Lenovo picks up about 2,000 Motorola patents and the phone manufacturing operations. | |
| In a statement, Google said the smartphone market is "super competitive". | In a statement, Google said the smartphone market is "super competitive". |
| "We believe that Motorola will be better served by Lenovo," Google added. | "We believe that Motorola will be better served by Lenovo," Google added. |
| Acquisition spree | Acquisition spree |
| The purchase of Motorola was Google's largest acquisition and it signalled a growing effort by the search giant to enter the hardware business. | The purchase of Motorola was Google's largest acquisition and it signalled a growing effort by the search giant to enter the hardware business. |
| Motorola Mobility created the Moto X and Moto G phones. | Motorola Mobility created the Moto X and Moto G phones. |
| Despite the sale, Google chief executive Larry Page insisted in a blog post: "This does not signal a larger shift for our other hardware efforts." | Despite the sale, Google chief executive Larry Page insisted in a blog post: "This does not signal a larger shift for our other hardware efforts." |
| The deal with Lenovo comes on the heels of an acquisition spree for Google. | The deal with Lenovo comes on the heels of an acquisition spree for Google. |
| In January, it snapped up DeepMind, a UK firm focused on artificial intelligence, and bought military robot-maker Boston Dynamics in December. | In January, it snapped up DeepMind, a UK firm focused on artificial intelligence, and bought military robot-maker Boston Dynamics in December. |
| But Lenovo has also been out spending: this is the second big acquisition for the computer firm in recent days. | But Lenovo has also been out spending: this is the second big acquisition for the computer firm in recent days. |
| Last week, the Chinese computer manufacturer announced it had acquired IBM's low-end server business for $2.3bn. | Last week, the Chinese computer manufacturer announced it had acquired IBM's low-end server business for $2.3bn. |
| Global ambitions | Global ambitions |
| In announcing Wednesday's purchase, Lenovo cited the strength of Motorola's brand, which has been revived in recent years with Google's help. | |
| "The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones," said Yang Yuanqing, chief executive of Lenovo, in a statement. | "The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones," said Yang Yuanqing, chief executive of Lenovo, in a statement. |
| "We will immediately have the opportunity to become a strong global player in the fast-growing mobile space," he added. | "We will immediately have the opportunity to become a strong global player in the fast-growing mobile space," he added. |
| He also noted the acquisition gives Lenovo an entry into the North American and Latin American markets, as well as a toehold in Western Europe. | He also noted the acquisition gives Lenovo an entry into the North American and Latin American markets, as well as a toehold in Western Europe. |
| The transaction must still be approved by US and Chinese regulators. | The transaction must still be approved by US and Chinese regulators. |