Google bought Motorola Mobility for $12.5 billion in 2011. The company has decided to sell Motorola Mobility to Lenovo for $2.91 billion. It seems Google didn't manage to make Motorola profitable and sold it at a loss. Google is retaining most of Motorola's portfolio of mobile patents though.
“Lenovo has the expertise and track record to scale Motorola Mobility into a major player within the Android ecosystem. This move will enable Google to devote our energy to driving innovation across the Android ecosystem, for the benefit of smartphone users everywhere,” said Larry Page, CEO, Google in a blog post.