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Google Sells Motorola Mobility To Lenovo For $2.91 Billion
_0x783czar writes "Google today announced that they will be selling Motorola Mobility to Lenovo for the sum of $2.91 billion USD. Google says the move should allow the company to receive the attention and focus it deserves in order to thrive. From the announcement: '[T]he smartphone market is super competitive, and to thrive it helps to be all-in when it comes to making mobile devices. It's why we believe that Motorola will be better served by Lenovo — which has a rapidly growing smartphone business and is the largest (and fastest-growing) PC manufacturer in the world. This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere.' Google was quick to add that this does not signal a move away from their other hardware projects. Additionally Google will 'retain the vast majority of Motorola's patents,' which they hope to continue using to stabilize the Android ecosystem. The deal has yet to be approved by either the U.S. or China."
WTF that makes no sense. A 10 billion dollar loss on a company they really just purchased. And they are moving aggressively into the hardware space on all other fronts. Google seems to be a churn and burn company. If it isn't paying off right now they close it or sell it.
No sigs in BETA. Beta SUCKS.
Well, I guess that whole "built in USA" thing on the MotoX was a fluke.
and here I actually had a positive feeling about Google for a bit. Oh well.
Lenovo again? First you took my Thinkpad now my Moto X.
I guess the "Don't be Evil" Google is long dead. The principled stand of exiting from the Chinese market, followed by assembling the Moto X in the US, then selling Motorola to Lenovo? ? ? WTF, Google.
They paid $12.5B for Motorola and got $3.2B back, so that's $9.3B for patents. Is that the part that's a bargain?
Soon you're talking real money.