Lenovo acquired Motorola, and then Lenovo Group adjusted its brand strategy. The following is the general process of acquisition.
At 6 a.m. Beijing time on October 30, 2014, Lenovo announced that it would purchase Google’s Motorola Mobility smartphone business for about US$2.9 billion and would fully take over Motorola Mobility’s product planning. Lenovo hopes to enter the highly competitive European and American markets.
In November 2013, Gartner and IDC successively released reports stating that global smartphone shipments exceeded 1 billion units in 2013. In 2014, this market will continue to grow, and Gartner predicts that Chinese mobile phone companies will occupy three of the top five seats in the global market.
Therefore, the acquisition of global brands and businesses like Motorola Mobility may play an important role in Lenovo's impact on the market. The content of the agreement shows that the Motorola brand and smartphone product portfolios such as Moto? Lenovo hopes that the agreement will strengthen its smartphone business in North America and Latin America and lay the foundation for entering the Western European market. Lenovo has been advocating the PC+ strategy and hopes to transform from a traditional PC manufacturer into a comprehensive IT manufacturer. Therefore, this acquisition will help Lenovo promote its PC+ business in the global market.
On the evening of October 30, 2014, Lenovo Group announced that the company had completed its acquisition of Motorola Mobility. Lenovo Group will become the world's third largest smartphone manufacturer, behind Samsung and Apple.
On January 30, 2014, Lenovo Group announced the acquisition of Motorola Mobility from Google for US$2.9 billion; subsequently at the quarterly financial report communication meeting in August 2014, Liu Jun, President of Lenovo Mobile Business Group, said that Lenovo The group's acquisition of Motorola Mobility is progressing smoothly and is expected to be completed within the year.
It is reported that after Lenovo completes the acquisition, Liu Jun will control Motorola’s 3,500 employees, 2,000 patents, and the Motorola mobile brand and trademark portfolio. On September 22, Lenovo Group’s mobile phone business team in the Wangjing area of ??Beijing began to move into the Motorola Building. Of the US$2.91 billion that Google received through this transaction, it initially received only US$660 million in cash and US$750 million in Lenovo Group shares. The remaining US$1.5 billion will be paid with a three-year promissory note.
On August 27, 2015, Lenovo Mobile President Chen Xudong announced that all Lenovo Mobile businesses except Magic Factory will be merged into Motorola, which was acquired early last year. This means that there will be no Lenovo brand products in the future. cell phone. At this point, Lenovo has become the last major domestic mobile phone manufacturer to abandon the mobile phone strategy.