There are several reports out now that Lenovo is going to buy Motorola Mobility from Google for $3 billion.
Motorola, Google, and Lenovo have yet to confirm the deal, but we're expecting a formal announcement soon. China Daily reports that Lenovo will buy Motorola's smartphone and tablet business plus 10,000 patents.
If the reports are true, this would be a huge writedown for Google. Google bought Motorola for $12.5 billion.
Motorola has been running semi-independently from Google since the acquisition went through. Last year, Motorola released its first flagship phone since becoming a Google company, the Moto X. The Moto X was well-reviewed, but it's unclear how many were sold. Motorola has steadily been dropping the Moto X's price since the launch last fall.
Motorola's revenues continue to shrink year over year. In Q3 2013, Motorola revenues were $1.18 billion, down from $1.78 billion for the same quarter a year before. Google will report earnings for Q4 2013 Thursday afternoon.
We've reached out to Google for comment and will update when we get a response.
Developing...refresh for updates.