China’s leading PC maker Lenovo Group (0992.HKG) said on Wednesday it had agreed to buy Google (GOOG.NASDAQ)’s Motorola handset division for US$2.91 billion, Reuters reported. The acquisition, China’s largest-ever tech deal, comes after Lenovo announced last week that it would buy International Business Machines (IBM.NYSE)’s low-end server business for US$2.3 billion. Lenovo is trying to buy its way into a heavily competitive and lucrative US handset market dominated by Apple (AAPL.NASDAQ). The deal ends Google’s short-lived foray into making consumer mobile devices. The company paid US$12.5 billion for the handset division in 2012.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved