Chinese PC and smartphone giant, Lenovo has agreed to buy Motorola’s mobile devices business off Google for the sum of $2.91 billion. Lenovo is the world’s number 5 smartphone manufacturer.
The deal is subject to approval by both U.S. and Chinese authorities. While the US has been wary of Chinese companies acquiring US businesses, this is not the first time that Lenovo would be doing something of this sort successfully, so there is a chance that this will sail through. In 2005, Lenovo purchased IBM’s ThinkPad division.
Under this deal the search giant will keep the majority of Motorola’s mobile patents, considered its prize assets. So, there. Google is out of the smartphone hardware business. But then, perhaps that is no biggie. Motorola is yet to return to profitability. It was posting losses before Google purchased it in 2011, and it is still posting losses till date.
With Lenovo opening up shop in Nigeria, does this mean that Motorola (or its ghost) is finally officially back in the country? Errrr….