China’s Lenovo has completed its $2.9-billion acquisition of Motorola Mobility, making the Lenovo-Motorola combine the third largest smartphone entity in India. Lenovo said it completed the $2.9 billion purchase on Thursday, adding to a flurry of acquisitions and initiatives aimed at transforming the world’s biggest maker of personal computers into a major player in wireless computing.
Lenovo and Motorola together form the third-largest smartphone player worldwide, according to data from research firm IDC pushing rival Xiaomi from the No. 3 position down to No 4.
IDC worldwide smartphone data showed Samsung leading with 23.8%, followed by Apple with 12%, Xiaomi with 5.3% and Lenovo following closely with 5.2%, and LG at No. 5 with 5.1%. Lenovo has a very good smartphone business in India through the offline channel. With this acquisition, Motorola brand is not disappearing from the market, said Rick Osterloh, Motorola President and COO. “This is a great acquisition for Motorola.
“Lenovo will proceed with the same business sector arrange in India, which is a vital target market,”he included. In India, Motorola is the fifth biggest cell phone creator in India with 5% offer of the portion as of June information from examination firm IDC.Since its revival early in the not so distant future, Motorola has sold more than two million cell phones, including the Moto G, Moto X and Moto E, at aggressive costs.
The Motorola-Lenovo join means to offer around 100 million cell phones and tablets universally before the end of March one year from now, while Lenovo plans to bring Motorola again to benefit inside four to six quarters.