Motorola is now officially a Lenovo company
Lenovo today announced that is has completed its acquisition of Motorola's smartphone division, Motorola Mobility, from Google. The acquisition was made official in February last year, when Google sold Motorola Mobility to Lenovo for USD$2.9 billion three years after its own purchase.
“Today we achieved a historic milestone for Lenovo and for Motorola – and together we are ready to compete, grow and win in the global smartphone market," said Lenovo CEO and Chairman Yang Yuanqing. "By building a strong number three and a credible challenger to the top two in smartphones, we will give the market something it has needed: choice, competition and a new spark of innovation.”
While Motorola Mobility is now a wholly owned subsidiary of Lenovo, it will remain headquartered in Chicago and will continue to trade under the Motorola name. The company will continue to manufacture Moto and DROID branded devices.
"We will continue to focus on pure Android and fast upgrades, and remain committed to developing technology to solve real consumer problems," said Motorola President Rick Osterloh.
“Motorola is in great hands with Lenovo, a company that’s all-in on making great devices,” said Google CEO Larry Page.