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Chinese giant PC producer Lenovo has completed the $2.9 billion acquisition of the handset unit in the iconic mobile maker Motorola Mobility, fortifying its positions in the US and other developed markets.
Beijing-based Lenovo Group bought Motorola from Google, the deal elevating it to the world’s third largest smartphone producer, moving Xiaomi Corp., another Chinese smartphone maker better known in the West as ‘Mi’, to the fourth position.
“By building a strong number three and a credible challenger to the top two in smartphones, we will give the market something it has needed: choice, competition and a new spark of innovation”, Lenovo CEO Yang Yuanqing said in a statement on the company’s website.
The $2.9 billion deal also adds to a squall of activity aimed at transforming Lenovo, the world’s number one PC manufacturer, into a major producer of smartphones and wireless devices.
Yuanqing says Motorola provides a shortcut for entering mature markets and will make the Chinese company “a global player.”
Rick Osterloh, President of Motorola Mobility, will remain in his role. And the company, with its total of 3,500 employers, will become a fully-owned subsidiary of Lenovo, but will continue to be headquartered in Chicago. Lenovo has headquarters in Morrisville, NC, Beijing, and Singapore.
Google acquired Motorola in 2012 for $12.4 billion, but failed to bring the iconic mobile maker back to growth. Lenovo claims it would revive the firm within the next 18 months, as it expects to sell about 100 million devices this year.
Meanwhile, the company retains ownership of the bulk of Motorola’s patent portfolio, with Lenovo having an option to license patents. Some 2,000 patents and a large number of patent cross-licensing deals will go with Motorola to Lenovo.
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MANILA, Philippines – Telecommunications rivals Smart Communications Inc and Globe Telecom Inc have marked the same date to release the iPhone 6 and iPhone 6 Plus: Friday, November 14.
Smart is looking forward to the release of smartphone in the Philippines, PLDT and Smart spokesperson Ramon Isberto said in a statement.
“Market response has been very positive, and there is much anticipation,” Isberto said.
The Philippines could finally enjoy the robust long term evolution (LTE) network of the PLDT Group using the iPhone 6 and iPhone 6 Plus, Isberto added.
“The enhanced features of the iPhone 6 will be fully enjoyed in Smart’s LTE network,” Isberto said.
Smart subscribers could pre-order beginning Friday, November 7.
Globe said the company would offer the new iPhone 6 and iPhone 6 Plus beginning November 14 as well, but interested buyers could now pre-register via Globe’s website.
Apple Inc launched in September the iPhone 6 featuring a 4.7-inch Retina HD display and iPhone 6 Plus with a 5.5-inch display.
The smartphones include the Apple-designed A8 chip with second generation 64-bit desktop-class architecture; advanced iSight and FaceTime HD cameras; ultrafast wireless technologies; iOS 8; and Apple Pay.
The iPhone 6 is expected to be available in 115 countries by the end of 2014.