Google is selling Motorola's smartphone business to Lenovo for $2.9
billion, a price that makes Google's biggest acquisition look like its
most expensive mistake.
The deal announced Wednesday will rid Google Inc. of a financial
headache that has plagued the Internet company since buying Motorola
Mobility for $12.4 billion in 2012. Motorola has lost nearly $2 billion
since Google took over, while trimming its workforce from 20,000 to
3,800.
Google had previously recovered some of the money that it spent on
Motorola by selling the company's set-top operations last year to Arris
Group Inc. for $2.35 billion. Google is also keeping most of the patents
that came with the Motorola purchase.
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