Deal becomes official as Lenovo acquires Motorola.
Chinese computer maker Lenovo has acquired Motorola officially today, October 31, 2014 to close a deal that was announced in January this year. Lenovo completed the purchase from Google, who had bought Motorola in 2012 for $12.4 billion. Lenovo bought the company for $2.9 billion.
Lenovo is one of the major players in the laptop market and is currently trying to expand into the smartphone industry, that is currently dominated by Apple and Samsung. Lenovo is currently the biggest personal computer maker in the world, with its sales almost topping all companies each quarter. Under Google, Motorola was churning out some great phones, which greatly increased its market share.
Previously, Motorola has come out with the Moto X and the first round Android Wear watch – Moto 360. In 2011, after Motorola suffered heavy losses, the company was divided into 2 different companies – Motorola Solutions and Motorola Mobility. The company acquired by Lenovo is Motorola Mobility, which deals with the smartphone business of the company.
Recently, Google gave Motorola the contract for producing the hardware for the Nexus 6. Since 2012, Motorola has made a strong comeback in the market with Moto X and Moto 360 and low-end phones like Moto G and Moto E.
What analysts will be hoping to see is what the Chinese manufacturer does with Motorola. In any case, Lenovo is set to become a major player in the smartphone market.
