According to several reports on Wednesday, Google was about a deal to unload Motorola Mobility to Lenovo for some $2.91 billion. Google CEO Larry Page has made a statement confirming Lenovo’s acquisition of Motorola Mobility at the aforementioned price. The deal announced comes less than two years after Google bought Motorola Mobility for $12.4 billion in the biggest acquisition of Google’s 15-year history.
According to Lenovo, Google will retain ownership of “the vast majority of the Motorola Mobility patent portfolio,” including current patent applications and invention disclosures. Meanwhile, Lenovo will be provided with legal protection for its widely used Android software for smartphones and tablet computers. Additionally the company will receive over 2,000 patent assets, including the Motorola Mobility brand and trademark portfolio. Gaining control of Motorola’s patents was the main reason Google CEO Larry Page decided to pay so much for Motorola Mobility at a time the smartphone maker was already losing money and market share.
Lenovo already is among the smartphone leaders in its home country, but it has been looking for ways to expand its presence in other markets, especially the U.S. and Latin America. The manufacture had been said to be among the prospective customers for BlackBerry Ltd. when that troubled smartphone maker was mulling a sale last year.
“We will be going from an emerging-market player to a worldwide player in smartphones,” Lenovo CEO Yang Yuanqing said in an interview with The Associated Press.
According to a recent report from research firm Strategy Analytics, Lenovo’s global smartphone shipments hit 13.6 million units during the three months ending in December, up from 9.2 million in 2012. Lenovo plans to keep both smartphone brands, selling under Motorola’s name in developed markets and under its own in developing countries where it already is established.
© Kate for AppsRumors, 2014. |
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