Google (GOOG) Looks to Sell Motorola's STB Unit, Refocus on Higher-End Smartphones
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Amid recent reports that Apple (Nasdaq: AAPL) is looking to make a set-top-box, Google (Nasdaq: GOOG) is looking to unload a similar unit from its recently acquired Motorola Mobility unit.
Bloomberg reports Thursday that Google may sell Motorola's Home Business unit and could garner up to $2 billion in the sale. News comes as Google is aiming to refocus Motorola's capacity into making more high-end smartphones as it looks to compete more wholly with Apple.
Motorola attempted to sell the unit for $4 billion in 2009, but couldn't get offers at the time. Notably, 2009 was also the height of the financial crisis, so potential buyers were also probably a little more conservative with where funds would be allocated to.
Recently, Google announced massive job cuts at the Motorola unit.
Barclays was tapped by Google to advise on the deal. Shares of Google are lower ahead of the opening bell, after hitting an annual high of $688.99 per share Wednesday.
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Bloomberg reports Thursday that Google may sell Motorola's Home Business unit and could garner up to $2 billion in the sale. News comes as Google is aiming to refocus Motorola's capacity into making more high-end smartphones as it looks to compete more wholly with Apple.
Motorola attempted to sell the unit for $4 billion in 2009, but couldn't get offers at the time. Notably, 2009 was also the height of the financial crisis, so potential buyers were also probably a little more conservative with where funds would be allocated to.
Recently, Google announced massive job cuts at the Motorola unit.
Barclays was tapped by Google to advise on the deal. Shares of Google are lower ahead of the opening bell, after hitting an annual high of $688.99 per share Wednesday.
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