Online search engine Google has announced the sale of its Motorola Mobility smartphone business to China-based information technology vendor, Lenovo for $2.91 billion.
Earlier, in 2012, Google had acquired Motorola smartphone business for $11 billion. However, the company failed to make a strong impact in the market facing intense competition from players such as Apple, Samsung and Huawei, etc.
Currently, Lenovo is the fifth largest smartphone vendor globally, with a market share of 4.6 per cent. The acquisition of Motorola smartphone business will help the company in strengthening its smartphone portfolio.
