SuperJoker
05-25-2008, 03:31 PM
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Diversified business group Videocon said its talks to buy out the mobile handset business of US-based Motorola are at 'initial' stages.
"The talks with Motorola are at very initial stage," group CMD Venugopal Dhoot said at an Assocham seminar here, while declined to give a deadline for the deal.
With Motorola planning to separate its mobile business from other operations, consumer electronics major Videocon had said that it had bid to acquire Motorola's mobile handset business.
According to analysts, Motorola's handset business is worth about $3.8 billion and its handsets account for 15 per cent market share globally.
Videocon is in the race for Motorola's handsets as the company feels the company will have synergy with its upcoming telecom services operations with such a business under its fold.
Videocon is a consumer electronics major in India, in the business of manufacturing consumer electronics products such as computer monitors, TVs, kitchen appliances, and audio equipment. They also owns a large oil field that produces 50,000 barrels of oil per day. And by the way, their founder’s name is Richie Rich.
Videocon announced recently that they plan to launch their own telecom network in India, so getting even just a bit of Motorola will be a perfect mix. We don’t know for sure what will happen with the talks between Videocon and Moto, but we do hope that all ends well for both parties. And for us users, too, of course.
[via moconews (http://www.moconews.net/entry/419-a-buyer-for-motorolas-handset-division-emerges-in-early-talks-with-vide/)]
Diversified business group Videocon said its talks to buy out the mobile handset business of US-based Motorola are at 'initial' stages.
"The talks with Motorola are at very initial stage," group CMD Venugopal Dhoot said at an Assocham seminar here, while declined to give a deadline for the deal.
With Motorola planning to separate its mobile business from other operations, consumer electronics major Videocon had said that it had bid to acquire Motorola's mobile handset business.
According to analysts, Motorola's handset business is worth about $3.8 billion and its handsets account for 15 per cent market share globally.
Videocon is in the race for Motorola's handsets as the company feels the company will have synergy with its upcoming telecom services operations with such a business under its fold.
Videocon is a consumer electronics major in India, in the business of manufacturing consumer electronics products such as computer monitors, TVs, kitchen appliances, and audio equipment. They also owns a large oil field that produces 50,000 barrels of oil per day. And by the way, their founder’s name is Richie Rich.
Videocon announced recently that they plan to launch their own telecom network in India, so getting even just a bit of Motorola will be a perfect mix. We don’t know for sure what will happen with the talks between Videocon and Moto, but we do hope that all ends well for both parties. And for us users, too, of course.
[via moconews (http://www.moconews.net/entry/419-a-buyer-for-motorolas-handset-division-emerges-in-early-talks-with-vide/)]