Lenovo is not killing off Motorola's best-selling smartphone (Updated)

Update: Tuesday, 1:44 p.m. ET: Motorola has clarified that it is not killing off the Moto G and E devices; Xudong's statement was misinterpreted. A Motorola spokesperson provided the following statement to Mashable:

"Moto will be our innovative trendsetting brand. Vibe will be our mass-market challenger brand. The brands will overlap in some price points and key geographies, but with different brand identities, features experiences and designs. The product brands are meant to be complementary and address multiple target audiences and ends of the product price spectrum."

The original story follows below.

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