Apple's Beats brand in April unveiled the Powerbeats Pro, a redesigned wire-free version of its popular fitness-oriented Powerbeats earbuds.
Google Selling Motorola Mobility to Lenovo for $2.91 Billion
Google is selling its Motorola Mobility division to Lenovo for $2.91 billion, according to a report from China Daily. Google acquired the company and its then 17,000-strong patent portfolio, along with 7,500 filed patents, in August of 2011 for roughly $12.5 billion.
At the time, Google said Motorola was a "natural fit" for the two companies and that it would "supercharge the entire Android ecosystem". The deal is said to include 10,000 of Motorola Mobility's patents, although it is likely that Google will retain licenses for those patents.
Update: Google has confirmed the acquisition in a blog post, saying "Motorola will be better served by Lenovo". The deal will need to be approved by both the U.S. and Chinese governments.
At the time, Google said Motorola was a "natural fit" for the two companies and that it would "supercharge the entire Android ecosystem". The deal is said to include 10,000 of Motorola Mobility's patents, although it is likely that Google will retain licenses for those patents.
Lenovo Group Ltd is likely to buy Google Inc’s Motorola Mobility business, giving the Chinese company a bigger say in the global tablet and smartphone market.Google's Motorola Mobility subsidiary has been a money loser for the company in recent quarters, costing the firm $248 million in the most recent quarter. Earlier this month, Google purchased the Tony Fadell-founded Nest for $3.2 billion in cash.
The acquisition, worth at least $2 billion, will include more than 10,000 mobile communications patents currently held by the United States company, according to a person familiar with the matter.
The deal is expected to be announced on Thursday morning in Beijing.
Update: Google has confirmed the acquisition in a blog post, saying "Motorola will be better served by Lenovo". The deal will need to be approved by both the U.S. and Chinese governments.
This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere. As a side note, this does not signal a larger shift for our other hardware efforts. The dynamics and maturity of the wearable and home markets, for example, are very different from that of the mobile industry. We’re excited by the opportunities to build amazing new products for users within these emerging ecosystems.
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70 months ago
Buy high, sell low. Way to take care of the shareholder's money, Google!
This also goes to show that Google's only interest in Moto was that they thought they could weaponize standards essential patents. Once the various judges told them to buzz off, they finally gave up.
Total wasted shareholder money: $15 billion+ when you count the two years of covering Moto's losses, the failed lawsuits, and the discount they gave Lenovo.
This also goes to show that Google's only interest in Moto was that they thought they could weaponize standards essential patents. Once the various judges told them to buzz off, they finally gave up.
Total wasted shareholder money: $15 billion+ when you count the two years of covering Moto's losses, the failed lawsuits, and the discount they gave Lenovo.
70 months ago
Oops. It's not a natural fit any more. It was a money-losing acquisition for Google.
And all the slow-thinkers still wonder why Apple does not rush to acquire smaller companies. :rolleyes:
And all the slow-thinkers still wonder why Apple does not rush to acquire smaller companies. :rolleyes:
70 months ago
Massive acquisitions rarely work out for the buyer and yet this is what tons of uninformed people on this site want Apple to do with its spare money it isn't using rather than give it back to the stockholders via an enlarged dividend or buyback.
70 months ago
So Google will lose about 9 billion dollars just to keep a few of Motorola's best patents and sell the rest? The Google shareholders would not be happy about Google pissing away their money like this.
70 months ago
And this is why Apple shouldn't be tempted to use its cash pile for a big acquisition.
That said, Google is oddly up after market on the news, despite the essential admission that it overpaid for Motorola Mobility.
Lol so Apple sells 52 million iPhones (more than any quarter in their history), pockets $13 billion and their stock plummets.
Meanwhile, Google says "oops, we wasted $12.5B on Moto - here Lenovo takes this off our hands for a $9.5B loss" and their stock is up.
What....that....what?
----------
Sam - Sung.
HTC has also produced some critically acclaimed phones but they're still getting swallowed up by iterations of the Galaxy.
Its a shame too - although Samsung took a hit last quarter. With the news they'll be scaling back their marketing efforts, I wonder if 2014 is the year we see another OEM step up to play with Apple and Samsung.
Maybe someone else will break double digits?
70 months ago
Losing money
If they weren't into losing money hand over fist, they wouldn't be in the Android business :p And.. the stock is UP???
Apple just posted fourth highest profit for any company in the history of ever. The stock goes down???
This just goes to prove that our country is DOOMED. Wall Street and government are filled with idiots.
If they weren't into losing money hand over fist, they wouldn't be in the Android business :p And.. the stock is UP???
Apple just posted fourth highest profit for any company in the history of ever. The stock goes down???
This just goes to prove that our country is DOOMED. Wall Street and government are filled with idiots.
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