Thursday, January 30, 2014
Chinese Tech Company Lenovo Acquires Google's Smart Phone Business
The China-based Lenovo Group technology business will be acquiring the problematic smartphone manufacturing division of Google.
They will acquire Google's Motorola Mobility handset-making operation for $2.9 billion. However, Google will be keeping the rights to majority of its 17,000 patents connected to the phones.
Google will keep the patents for the purpose of continuing the control of technology licensed to phone makers who use Google's Android software.
The deal is still pending for approval by the U.S. regulators.
The world's smartphone market is dominated by South Korea's Samsung and U.S.-based Apple, with Lenovo third if the deal is completed.
Google's share while owning Motorola dropped from 2.3 percent to about 1 percent last year.