The Motorolla Mobility business belonging to technology firm Google will be sold to Lenovo in a deal costing ($2.75bn) (£1.75bn)
Google has so far cut down its 20 000 workforce to less than 4000 as they incurred losses of close to $2bn (£1.2bn).
Less than two years ago Google purchased the company in a bid to boost the Android operating system.
Valuable smart phones such as the Moto G and the Moto X have all been launched under Google.
Larry Page, Chief executive of Google, Larry Paige described the Lenovo deal as an “important move for Android users”.
“The smart phone market is super competitive and to thrive it helps to be all-in when it comes to making mobile devices,” Mr Page said.
“We believe that Motorola will be better served by Lenovo, which has a rapidly growing smartphone business and is the largest and fastest-growing PC manufacturer in the world.
“This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smart phone users everywhere.”
“I’m phenomenally impressed with everything the Motorola team has achieved and confident that with Lenovo as a partner, Motorola will build more and more great products for people everywhere” said Paige who also highlighted that the deal was yet to be approved in the US or China and this could take a long time.
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