China's Lenovo Group is nearing a deal to purchase Google Inc's Motorola handset division for close to $3 billion, people familiar with the matter told Reuters on Wednesday, buying its way into a heavily competitive U.S. handset market dominated by Apple Inc.Lenovo is in the final stages of talks to buy the Google division that makes the Moto X and Moto G smartphones, as well as certain patents, the sources said.A sale of Motorola would mark the end of Google's short-lived foray into making mobile devices and a pullback from its largest-ever acquisition. Google bought the U.S. cellphone giant in 2012 for $12.5 billion but has struggled to revamp the money-losing business.It also would mark Lenovo's second major deal on U.S. soil in a week, as it angles to get a foothold in major global computing markets. The Chinese electronics company last week announced a deal to buy IBM's low-end server business for $2.3 billion in what was China's biggest technology deal thus far.
Apple Inc. (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. Shares of AAPL fell by 1.14% or $-5.75/share to $500.75. In the past year, the shares have traded as low as $385.10 and as high as $575.14. On average, 11905900 shares of AAPL exchange hands on a given day and today's volume is recorded at 17923056.
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