From X-bit Labs: Lenovo Group and Google have entered into an agreement under which Lenovo plans to acquire the Motorola Mobility smartphone business. The takeover will immediately make Lenovo the world’s third largest maker of smartphones and will let it gain a strong market presence in North America and Latin America, as well as a foothold in Western Europe.
In 2013 Lenovo sold 45.5 million smartphones (up from 23.7 million in 2012), according to IDC, and controlled about 4.5% of the global smartphone market. Motorola Mobility shipped approximately 10 million of smartphones in 2013. Since Lenovo and Motorola did not compete in 2013 (because Lenovo’s phones are not available in the U.S. and Western Europe), their shipments can now be combined. With the takeover of Motorola Mobility, Lenovo becomes the globe’s No. 3 supplier of smartphones with 55.5 million units sold yearly. Two competitors, which are ahead are Apple (153.4 million) and Samsung (with 313.9 million).
“The acquisition of such an iconic brand, innovative product portfolio and incredibly talented global team will immediately make Lenovo a strong global competitor in smartphones. We will immediately have the opportunity to become a strong global player in the fast-growing mobile space,” said Yang Yuanqing, chairman and CEO of Lenovo.
Lenovo, which in 2005 acquired IBM’s PC business and its legendary Think brand, will now acquire world-renowned Motorola Mobility, including the Motorola brand and Motorola Mobility's portfolio of innovative smartphones like the Moto X and Moto G and the Droid Ultra series. In addition to current products, Lenovo will take ownership of the future Motorola Mobility product roadmap.
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