Lenovo Group Ltd., which is buying Motorola Mobility from Google Inc., plans to make the phonemaker profitable within four to six quarters without eliminating jobs, Chief Executive Officer Yang Yuanqing said.
Asian shares fell this week, with the benchmark index extending its longest streak of weekly declines since June 2011, as investors shunned risk in a global rout that wiped $1.7 trillion from equities this year.
Lenovo Group Ltd. has turned to national security insiders to win U.S. approval to buy Google Inc.’s Motorola Mobility phone unit and International Business Machines Corp.’s low-end server business, people familiar with the two deals said.
Lenovo Group Ltd., which announced $5 billion of deals last month to bolster its server and smartphone businesses, plunged the most in five years in Hong Kong after the stock was downgraded by at least five brokerages.
Lenovo Group Ltd. agreed to buy Google Inc.’s Motorola Mobility phone unit for $2.91 billion, as the world’s largest personal-computer maker continues a buying spree of U.S. technology businesses. Lenovo fell 8 percent.
Lenovo Group Ltd. made the largest overseas technology acquisition by a Chinese firm this month when it acquired a server business from International Business Machines Corp. Repeating the trick less than a week later took a little help from Google Inc.
Lenovo Group doesn't need a phone company. It is a phone company. The Chinese consumer-electronics giant is currently the fourth-largest smartphone maker in the world, according to research firm IDC. It's bigger than LG Electronics, HTC, Sony and yes, even Motorola Mobility.