Lenovo, which is in the process of acquiring Google's Motorola Mobile division for $2.91 billion, thinks it can turn around the Motorola unit, especially by reintroducing the Motorola brand in China. However, the company said it will take some time to do so.
Former Time Warner Cable CTO Jim Chiddix and former Charter Communications and Adelphia Communications CTO Marwan Fawaz are among the 13 executives that Charter has nominated for seats on TWC's board of directors.
Lenovo CEO Yang Yuanqing said he hopes the company's $2.91 billion purchase of Google's Motorola Mobile division will help it to pass smartphone market leaders Samsung Electronics and Apple, though he acknowledged that would take time.
Google CFO Patrick Pichette said that the company's sale of its Motorola Mobile business to Lenovo would be a "win-win" for the wider Android ecosystem and that Google will continue to support all of its Android partners.
Google's decision to sell its Motorola Mobile division to Lenovo for $2.91 billion represents a large financial loss for Google, but it likely means that Google is prepared to reduce tensions with its Android licensees, according to analysts. Additionally, analysts say the deal will catapult Lenovo into a stronger position in the smartphone market, putting pressure on both Apple and other Android players.
Google will sell its Motorola Mobile division to China's Lenovo for $2.91 billion, the companies announced. That price is far below the $12.4 billion Google paid for Motorola and its patents in 2011. However, Google said it will retain the "vast majority" of Motorola's patents as part of its deal with Lenovo. When Google purchased Motorola, the company said that fully $5.5 billion of the deal was based on the value of Motorola's trove of 17,000 wireless patents.
Google's Motorola Mobile division aims to launch a phone that costs less than £30 ($50) to get more people using smartphones.
Apple and Samsung Electronics' dominance over the smartphone market, in the United States in particular, is well-known. However, a new measure of just how tight a grip the two companies have comes from research firm the NPD Group, which found that in the fourth quarter the two companies grabbed 68 percent of total U.S. smartphone ownership.
Moto X, the first new flagship smartphone launched by Motorola Mobility following its acquisition by Google in 2012, will officially hit European markets on Feb 1, 2014 with a €399 price tag.
Morgan The numbers are in, and it's time to make sense of the data. ABI Research's Michael Morgan checks out the world's 14 largest branded cell phone makers in the third...