In one of the day’s most shocking happenings, Google have reportedly sold off Motorola to Lenovo, the Chinese multinational technology company in deal amounting to around $3 billion. The American Cellular company which was initially purchased by Google in 2011 for a staggering $12.5 billion was doing relatively quite well with recent success stories including the Moto X and the Moto G smartphones which created a stir in the market due to its affordable price and various customization options; but as they say….business is business and if u happen to see a good opportunity knocking at your door its better not to let it slip past by which is exactly what Google has done.
The new acquisition proves to be a major boost in Lonovo’s plans for further penetrating into the american cellular market which up till now was unsuccessful in doing so and will also include more than 2,000 mobile communications patents currently under Google’s possession. Here’s what Motorola’s CEO Dennis Woodside had to say about the acquisition;
With Lenovo now at the helm, Motorola will now be in a better position to attack the global smartphone market. As for Google, they were able to keep the vast majority of patents they acquired from Motorola, with Lenovo also receiving a good 2,000 patents in addition to the Motorola brand and trademarks for $2.91 billion.
Will Lenovo be able to revive Motorola’s lost fortunes yet again or would be the existing big names in the market prevent it from doing so ? Only time will tell but for now we would like to congratulate Lenovo on their new business acquisition and wish them all the best for the future. Cheers !!