Breaking story on The Verge
Source: http://www.theverge.com/2014/1/29/5358620/lenovo-reportedly-buying-motorola-mobility-from-googleGoogle is reportedly nearing a deal to sell Motorola's phone division to Lenovo, a move that would give the Chinese smartphone manufacturer a major presence in the US smartphone market. News of the potential acquisition comes from both Reuters and China Daily, with the latter reporting that the acquisition could be announced as soon as Thursday morning in Beijing — just a matter of hours from now. Reuters reports that the deal is worth close to $3 billion, a number corroborated by China Daily's report over a deal worth over $2 billion.
Google originally bought Motorola Mobility for $12.5 billion, but said at the time that it was mainly interested in its patent portfolio. Now, it appears that Google is offloading its handset business, which has been losing hundreds of millions each quarter since the purchase. Reuters reports that Lenovo's purchase will include some patents, though it appears that the acquisition focuses primarily on devices, such as the Moto X and Moto G.