Lenovo Closes $2.91 Billion Deal for Motorola
Globally, vendors shipped 327.6 million smartphones in the third quarter, a 25.2 percent increase over the same period in 2013, IDC analysts said Oct. 29. Samsung and Apple were one and two in the market in the quarter, while Chinese device maker Xiaomi was third, according to the IDC numbers. Lenovo and LG Electronics essentially tied for fourth. The analysts said that while developed markets saw single-digit growth, in emerging regions—where lower prices were making smartphones an affordable computing device—growth was hitting about 30 percent. According to Ramon Llamas, research manager with IDC's Mobile Phone group, Xiaomi, Lenovo and LG all showed growth that was better than the overall market. "This shows that there is still room to compete in this market, whether it be in the low end as Lenovo has done, at the high end where Xiaomi competes, or in both as LG Electronics has shown," Llamas said in a statement. "Beyond the top five, there are a number of other vendors achieving similar results." Motorola CEO Osterloh said the deal will enable his company to take advantage of Lenovo's worldwide reach and scale and its broad product portfolio.
"Over the past two years, we have transformed Motorola by focusing on what matters most—consumers," Osterloh said in a post on the company blog. "We've made huge strides in bringing the mobile Internet to millions of people around the world and improving their lives through exceptional technology, experiences and value. While we're proud of the progress we've made, we recognize that there is still much more we can achieve—in innovation, reach and impact."