
It looks like what started as a rumor earlier today proved to be 100% accurate, as Lenovo and Google have just announced they have reached an agreement for the acquisition of Motorola Mobility smartphone business.
Google purchased Motorola Mobility back in 2011 for $12.5 billion (€9.15 billion) and the agreement it has reached today with Chinese company Lenovo mentions it will only get $2.91 billion (€2.13 billion) for the company. That means Google has decided to sell Motorola at a huge loss. Even though the Motorola Mobility's smartphone business shrank over the years due to layoffs and closing of operations in almost all countries except the United States and Canada, the selling price is still far from what Google originally paid...