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Lenovo bought Motorola for $2.91 billion

Monday, February 3, 2014

Reports say that Lenovo is buying Motorola Mobility from Google for $2.91 billion; Google will maintain ownership of the vast majority of the Motorola Mobility patent portfolio. Lenovo will still receive 2,000 patent assets and the Motorola Mobility brand and trademark.

“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, in a released statement.

Lenovo’s goal from this acquisition is to gain an entry into the US market where it doesn't have significant inroads in the smartphone arena: “We will fully leverage the Motorola brand in the U.S. and Latin America, just like we leveraged the ThinkPad brand in the PC space. Motorola will be our smartphone product”. Yuanqing Yang Lenovo's CEO said.

And he said also that the company aim to reach 100 million smartphones in the year 2015, and surpass even Samsung and Apple.

Considering that Lenovo managed to make its way up to the top five smartphone company in 2013, it is worth considering keeping an eye on them, and maybe they will be the new “big thing” in the upcoming few years.

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