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A Flextronics plant that will be building the new Motorola smartphone Moto X in Fort Worth, Texas. Lenovo will buy Motorola Mobility from Google for $2.9 billion, in a bid to boost its smartphone business in the Americas and Western Europe, as well as access thousands of patents, the Chinese company announced on January 30. Under the deal, Lenovo will pay $1.41 billion in cash and its ordinary shares. The remaining $1.5 billion will be paid over three years. "With the deal, we expect to become the No.3 smartphone manufacturer in the fast-growing global market," said Yang Yuanqing, Lenovo's Chairman and CEO, adding that the company has set the goal of selling 100 million smartphones in 2015. The acquisition will enable Lenovo to enter key markets and receive over 2,000 patent assets and the iconic Motorola Mobility brand, Yang said. (XINHUA/REUTERS) |
