Google’s $9.6-Billion Mistake

  • by:
  • 09/21/2022

Google’s $9.6-Billion Mistake (Bloomberg)

After nearly two years, Google’s calling it quits on the company’s ill-fated attempt to right the Motorola ship. Larry Page’s search giant is selling its Motorola business to Chinese computer maker Lenovo. The price of the deal is said to be around $2.91 billion, which is about $9.6 billion less than what Google paid for Motorola’s handset business. While Page’s original goal was grand in scope — to eat away iPhone market share by pushing its Android mobile operating system on Motorola phones — the plan never came to fruition. Page attempted to get out in front of the acquisition blunder when he wrote in a blog post on Google, “This move will enable Google to devote our energy to driving innovation across the Android ecosystem…”  The only thing that backing away from the Motorola deal really drove was a loss in share price value, as GOOG fell 1.43 percent yesterday after the news broke.

Image:
ADVERTISEMENT

Opinion

View All

JACK POSOBIEC: The government goes after MAGA and Trump while pedophilia in Hollywood is 'perfectly fine'

"Why would Nickelodeon employ people who had been already convicted of child sex abuse?"...

UK medical body claims preventing teachers from 'affirming' child sex change will 'cause distress' to students

The medical body told the UK Department of Education it does not think parents should always know if ...

Evan Gershkovich's detention in Russia extended over espionage allegations

The US ambassador to Russia, Lynne Tracy, maintained that "the accusations against Evan are categoric...

Women workers at greater risk of being replaced by AI: study

7.9 million jobs would be lost in the "worst-case scenario."...