Google to sell Motorola to Lenovo
January 31 , 2014
Lenovo is buying Motorola Mobility from Google for $2.91B, which is a strange move for Google, since it appeared that the company wanted to control majority of the Motorola patents.
Google CEO Larry Page mentioned that the it would help Lenovo "to be all in" since the smartphone market is extremely competitive. Lenovo's CEO said the company doesn't have an effective plan as of yet but the acquisition will make it "a major smartphone company in the US."
Google is reportedly cutting its losses since it bought Motorola back in 2012 for $12.5B and has been losing millions of dollars each quarter ever since.