Motorola's retreat continues, sells factories in China and Brazil to Flextronics for $75 million

Mere hours after Motorola announced that it was pulling out of South Korea, it's revealed a deal to sell its Chinese and Brazilian operations to Flextronics for $75 million. We won't blame you if you've not heard of the manufacturer, which has previously built XBox and Zune units for Microsoft as well as Kodak's digital cameras. While the stack of cash will go straight to plug the hole in Motorola's coffers, Flextronics has also bought first dibs on future smartphone production, something that CEO Mike McNamara says could be worth "several billions" in revenue down the line -- hopefully the next time Larry utters the words "Motorola" and "Nexus" in the same sentence.

Continue reading Motorola's retreat continues, sells factories in China and Brazil to Flextronics for $75 million

Filed under: Cellphones, Google

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Via: The Next Web

Source: Flextronics (PDF)