Business

Google’s Motorola misstep could be Lenovo’s boon

By Michael Liedtke
Published January 30, 2014 3:25pm ET
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Google’s Motorola misstep could be Lenovo’s boon
FILE - In this Wednesday, Sept. 5, 2012, file photo, Eric Schmidt, Google's chairman, speaks during a press conference in New York, where Motorola introduced three new smartphones, the first since it became a a part of Google. Google said Wednesday, Jan. 29, 2014, it is selling Motorola's smartphone business to Lenovo for $2.9 billion, a price that makes Google's biggest acquisition look like its most expensive mistake.(AP Photo/Bebeto Matthews, File) | Bebeto Matthews

SAN FRANCISCO (AP) — An expensive mistake by Google could turn into a golden opportunity for China’s Lenovo Group as it expands beyond its success in the personal computer industry.

Google is ridding itself of a financial headache by selling Motorola Mobility’s smartphone business to Lenovo for $2.9 billion. The deal announced late Wednesday comes less than two years after Google bought Motorola Mobility for $12.4 billion in the biggest acquisition of Google’s 15-year history.

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