Lenovo Projects End to Motorola Losses With China Phone
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Lenovo Group Ltd., which posted a 29 percent surge in profit today, expects to end losses at Motorola Mobility within quarters of completing a deal as it reintroduces the smartphone brand to China.
“In a few quarters we can turn around the business,” Chief Executive Officer Yang Yuanqing said in a phone interview today. The Beijing-based company has spoken to U.S. regulators and is working to get approval to buy Motorola from Google Inc. for $2.91 billion in cash and stock.