Connect with us

Hi, what are you looking for?

News

Google Sells Motorola Smartphone Business to Lenovo

Motorola Logo

On January 29, 2014 Lenovo and Google entered into a definitive agreement under which Lenovo plans to acquire the Motorola Mobility smartphone business for approximately $2.91 billion (USD) (subject to certain adjustments), including $1.41 billion paid at close, comprised of $660 million in cash and $750 million in Lenovo ordinary shares (subject to a share cap/floor). The remaining $1.5 billion will be paid in the form of a three-year promissory note.

Lenovo, which in 2005 acquired IBM’s PC business and its legendary PC brand, will now acquire world-renowned Motorola Mobility, including the MOTOROLA brand and Motorola Mobility’s portfolio of innovative smartphones like the Moto X and Moto G and the DROID Ultra series. In addition to current products, Lenovo will take ownership of the future Motorola Mobility product roadmap.

Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio, including current patent applications and invention disclosures. As part of its ongoing relationship with Google, Lenovo will receive a license to this rich portfolio of patents and other intellectual property. Additionally Lenovo will receive over 2,000 patent assets, as well as the Motorola Mobility brand and trademark portfolio.

“The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones. We will immediately have the opportunity to become a strong global player in the fast-growing mobile space,” said Yang Yuanqing, chairman and CEO of Lenovo. “We are confident that we can bring together the best of both companies to deliver products customers will love and a strong, growing business. Lenovo has a proven track record of successfully embracing and strengthening great brands – as we did with IBM’s Think brand – and smoothly and efficiently integrating companies around-the-world. I am confident we will be successful with this process, and that our companies will not only maintain our current momentum in the market, but also build a strong foundation for the future.”

“Lenovo has the expertise and track record to scale Motorola Mobility into a major player within the Android ecosystem. This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere,” said Larry Page, CEO, Google.

“As part of Lenovo, Motorola Mobility will have a rapid path to achieving our goal of reaching the next 100 million people with the mobile Internet. With the recent launches of Moto X and Moto G, we have tremendous momentum right now and Lenovo’s hardware expertise and global reach will only help to accelerate this,” said Dennis Woodside, CEO, Motorola Mobility.

Advertisement. Scroll to continue reading.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

New Products

IKEA BLOMPRAKT Bluetooth Speaker Lamp and NATTBAD Wireless Speaker

New Products

IKEA says "hejdå" to Sonos and builds its own smart speaker lineup with BLOMPRAKT and NATTBAD — affordable, Matter-friendly, and simple enough to set...

Soundcore Boom 3i portable Bluetooth Speaker floating in water Soundcore Boom 3i portable Bluetooth Speaker floating in water

New Products

Rugged, floating Bluetooth speaker built to survive saltwater, drops, and your worst outdoor mishaps. Expect serious bass, 16-hour playtime, and an emergency alarm that...

Beyerdynamic AVENTHO 100 Wireless Headphones Lifestyle Beyerdynamic AVENTHO 100 Wireless Headphones Lifestyle

New Products

Beyerdynamic AVENTHO 100 wireless headphones offer retro style, German-engineered sound, ANC, and travel-friendly features at a competitive price in 2025.

Focal Diva Mezza Utopia Loudspeakers Focal Diva Mezza Utopia Loudspeakers

New Products

Focal’s Diva Mezza Utopia is a $70,000 high-end wireless speaker system with Naim Class A/B amps, UWB streaming, and app control—no separates required, no...

KEF XIO Soundbar in Silver Grey mounted on-wall KEF XIO Soundbar in Silver Grey mounted on-wall

New Products

KEF XIO Soundbar brings Dolby Atmos, DTS:X, and hi-res streaming to a sleek 5.1.2 system with premium design, VECO bass tech, and wide connectivity.

LG OLED evo M5 Wireless TV Lifestyle Gaming LG OLED evo M5 Wireless TV Lifestyle Gaming

HDTV 4K & 8K TV

Top-of-the-line LG OLED picture technology in a 77-inch screen size with zero cable clutter for a sleek home theater or gaming setup.

You May Also Like

New Products

At $99, find out why the Google TV Streamer 4K is double the cost of its predecessor.

News

Google has finally pulled the plug on the original Chromecast. The streaming player will no longer receive software or security updates and apps will...

Car Audio

In an interesting strategic move, GM is partnering with Google for the implementation of an in-house car navigation and entertainment system for its EVs

Articles

The tech titans couldn't have built their empires without songs -- and now they are destroying the cultural ecosystem that made them rich.

Digital Music Systems

Google's convenient and inexpensive Chromecast Audio wireless adapter has been discontinued. What's next?

News

YouTube TV 4K Plus offers some upgrades, but will that entice you to pay for them at $85/month?

New Products

Sony Ericsson and Google today announced that they have worked closely together to integrate Google’s Blogger and Web Search features on Sony Ericsson mobile...

New Products

Google Inc. (Nasdaq:GOOG) and eBay Inc. (Nasdaq:EBAY) today announced a multi-year agreement to benefit both companies’ collective communities of users, merchants, and advertisers around...

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers