In a surprising news, Google has agreed to sell its newly-acquired phone company, Motorola, to Lenovo for just $3 billion. Google bought Motorola 2 years ago for $12.5 billion (story here).
Since Google bought Motorola last August 2011, it has released very few phones, including the highly-customizable Moto X and the really affordable Moto G.
However, Google admitted it could not quite handle running a hardware company. Lenovo steps in to take over the handset division and a few related patents for a mere $3 billion. Google will retain a sizable number of the 2,000 patents it got from Motorola.
Lenovo is currently the number 1 PC maker in the world but has not set any good foot-hold in the western world. The Motorola brand could very well its ticket to the US.
Earlier this month, Lenovo has also announced it is buying IBM’s server division.