Monday, February 3, 2014
Google Loses Almost 10 BILLION Dollars on Sale of Motorola Mobility!
The big news, in case you missed it, is that last week, Lenovo — a Chinese technology company and the worlds largest PC maker — bought Motorola MOBILITY from Google for $2.91 billion. Google did hold on to Motorola's Advanced Technology and Projects group. They purchased Motorola MOBILITY in 2011 for $12.5 billion after Motorola Inc. was split into Motorola MOBILITY and Motorola SOLUTIONS.
Wow! A loss of nearly 10 billion dollars in less than a three year period (plus operating expenses incurred during that time)! BTW, in case you don't keep up with such things, Motorola MOBILITY is that part of Motorola that developed the cellular handset products. Motorola SOLUTIONS is the remaining part of Motorola (after selling off their TV business, their Semi-conductor business, and their Cellular handset business) that is a leading manufacturer of what most of us know as "the 2-way radio business".
Lenovo will have the rights to use the RED Motorola logo as shown above. Motorola MOBILITY uses a BLUE logo.
BTW, our February eNewsletter is now available by clicking here!