China's fast-growing Lenovo Group technology business is buying the troubled smartphone manufacturing division owned by Google, the giant U.S. Internet company.
Lenovo, already the world's biggest personal computer maker, is paying $2.9 billion for Google's Motorola Mobility handset-making operation. But the search engine is retaining rights to almost all of the 17,000 patents connected to the phones.
Google kept the patent rights so it could...
Having conquered the global market for personal computers, China's Lenovo is setting its sights higher. "Lenovo is the best company in the world at balancing innovation and efficiency." So declares Yang Yuanqing, the chairman of the Chinese computer-maker.