SAN FRANCISCO: Larry Page, Google's co-founder and chief executive, likes to talk about "big bets" and "moonshots." But the thing about moonshots is that they can crash to Earth.
That appears to be what happened to Motorola Mobility, the cellphone maker owned by Google. The Internet giant announced Wednesday that it would sell Motorola to Lenovo for $2.91 billion, less than two years after paying $12.5 billion to acquire it.
Motorola was Google's biggest acquisition by ..
That appears to be what happened to Motorola Mobility, the cellphone maker owned by Google. The Internet giant announced Wednesday that it would sell Motorola to Lenovo for $2.91 billion, less than two years after paying $12.5 billion to acquire it.
Motorola was Google's biggest acquisition by ..
Motorola was Google's biggest acquisition by far and was hailed by the company as an example of the big bets Page was unafraid to make. Yet Motorola has continued to bleed money, aggravating shareholders and stock analysts, and its new flagship phone, the Moto X, did not sell as well as expected.
The deal is not a total financial loss for the extremely wealthy Google. In addition to keeping billions of dollars' worth of patents, Google essentially turned Lenovo into a factory for its .. Android operating system and also picked up some cash.
The deal is not a total financial loss for the extremely wealthy Google. In addition to keeping billions of dollars' worth of patents, Google essentially turned Lenovo into a factory for its .. Android operating system and also picked up some cash.
Still, it is a sign of the fits and starts the company is experiencing as it navigates business in the mobile age, which has upended technology companies of all types.
In addition to using Motorola's patents to defend itself in the mobile patent wars, Google pledged to reinvent mobile hardware with Motorola's new phones and directly compete with Apple by owning both mobile hardware and software.
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