Google To Sell Motorola For $2.91 Billion

03:47

January 30, 2014

A guard stands in front of a newly opened Motorolla handphone shop in downtown Hanoi, Nov. 13, 2006. (Hoang Dinh Nam/AFP/Getty Images)

Google has agreed to sell Motorola to the Chinese technology giant Lenovo. This comes just two years after Google paid $12.5 billion to buy the company.

Google was counting that getting into the mobile cellphone business would pay off, but that didn't happen. However, this isn't a total financial loss for Google. The company is keeping billion of dollars' worth of Motorola patents.

Google CEO Larry Page's statement on the sale to Lenovo

Guest

Derek Thompson, business editor for The Atlantic. He tweets @DKThomp.

This segment aired on January 30, 2014.