Lenovo which acquired Motorola Mobility from Google in January last year, has made an important announcement regarding its smartphone division. Motorola will now design, develop and manufacture smartphones for Lenovo.
Resting all the rumors and reports from yesterday, Lenovo confirmed jn an official statement that “Both Motorola and Lenovo brands will remain in the market currently”. It added that “long term branding decisions are still in discussion”. The move comes from the company with an aim to create a fast and leaner business model to drive growth.
Lenovo reported a mere three percent increase year-over-year increase with $10.7 billion in revenue for Q1 ended June 30, 2015 for FY 2015-16. The company announced 3,200 job cuts and its plans to restructure its smartphone business. Earlier this month, Lenovo and Motorola announced that they have started manufacturing smartphones in India.