Google announced on Wednesday that it has sold its Motorola smartphone business to PC manufacturer Lenovo for $2.9 billion.
Google bought the Motorola division in 2012 for $12.5 billion. The unit currently makes the Moto X and Moto G smartphones.
Google also sold the Motorola Home division to cable equipment maker Arris for $2.5 billion in December
The move from Lenovo will likely strengthen their position in the smartphone market and pick up its presence especially in North America and Latin America
Google will retain majority ownership of Motorola's Mobility patent portfolio — one of the key reasons for the initial acquisition — but Lenovo will receive a license to this and gain about 2,000 patent assets. Read more...
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