“Google Inc bought a 5.94 percent stake in China’s Lenovo Group last month for $750 million, according to a disclosure on the Hong Kong stock exchange,” Reuters reports.
“Lenovo agreed to buy Google’s Motorola handset division last week for $2.91 billion in a cash and stock deal,” Reuters reports.
Brief article here.
Related articles:
Google sells beleaguered Motorola Mobility to Lenovo for $2.91 billion – January 29, 2014
Google’s Motorola Mobility burning cash with increasing rapidity – October 17, 2013
Google cuts 1,200 more Motorola Mobility jobs – March 8, 2013
Google to axe 4,000 employees at Motorola Mobility division – August 13, 2012
Apple CFO Oppenheimer says Google spent ‘a lot of money’ on Motorola Mobility – August 17, 2011
Google to buy Motorola Mobility for $12.5 billion to bolster patent portfolio – August 15, 2011
Beleaguered Motorola’s CEO Zander out; ‘plans to spend more time with his family’ – November 30, 2007
Here, we’ll pay you to take it off our hands…
I’ve read about this a few times lately. Apparently google haven’t paid for the lenovo shares yet but they keep the motorola patents in the deal.
Articles stating how google bought motorola for >$12B and sold it for <$3 are hilarious. Read the comments by phandroids who think this is a good deal as google only bought motorola for the patents. They seem to overlook the fact the patents have been absolute zero help in defence and attack in the courtroom.
Google kept 5,000 of the 7,000 MM patents in the deal, according to a recent article. Google also kept the MM advanced product design group and gets some Lenovo stock.
While the MM purchase did not turn out as bad as some simplistically portray it ($12.5B down to ~$3B), it cannot reasonably be portrayed as a success. Google bailed early, so it wasn’t the dismal AOL disaster. But it might end up being on the same order as Microsoft/Skype, for example.
When you lose more than 9 billion dollars on an investment, it hurts BIG TIME, trust me.
So YOU’VE lost 9 billion dollars on an investment?
‘It can’t reasonably be portrayed as a success’ has anyone actually tried to portray it as such… Outside of a mental institution anyway.
Is this an attempt I wonder to try to bribe Lenovo into committing to producing Chromebooks.
Don’t forget the operating losses incurred during the time GOOG owned it. Maybe $1 B
Here’s some more money… seriously.. sorry about the whole Motorola thing…
Ding ding ding!
It seems to me that their strategy is to go after MS.
Besides “paying” Lenovo to take Motorola off their hands, they are buying into a market that is seeing declines in sales and will end up with one supplier in the end. In the end, only Lenovo will be selling PC’s. These of course will be shackled with Windows or some version of a Gaggle OS. This assures MS is in big trouble because once Lenovo is the only supplier, Gaggle will require each PC be shipped with their own OS. Even if you removed it and load Windows, they get paid and MS will be in constant battle.
As history has shown, this will only work for a while. Lenovo and Gaggle will lose in the long run because people don’t like being forced into something.
Also, Gaggle wants to be able to say, “look, we have more market share of then Windows” even if it’s shit. At least that’s the same strategy they use with Android. Either way, this is not good for MS and it has no baring on Apple.
MS and the PC market are in real trouble and these people who love Gaggle will soon feel like prisoners without freedom or choice. Oh, they have a choice but they let stupidity and emotion blind them to what is really going on.
The “freetards” won’t be free. Welcome to the Borg!
Wait…..they didn’t sell it for $2.9B? They actually sold it for $2.2B?
Is that right?
Wall Street just lost its marbles rewarding Google for the $12 – $2.2 billion dollar loss. That’s around a $10B dollar loss. Nice one Google.
Lenovo makes disposable computers,
Very low quality.
Yet more proof that google is nothing but a giant ponzi scheme and illegal money laundering outfit.
Thanks for sharing, I like lenovo.