India’s Videocon “likely” to buy Motorola’s handset division
“Wait, didn’t Motorola sell out already months ago?” That’s exactly what I said to myself when I first found out about this news story, where India’s Videocon is identified to as already being in initial stage talks with Motorola regarding a much-needed sellout. Group CMD Venugopal Dhoot says, “The talks with Motorola are at very initial stage,” according to Business Standard.
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.
Seriously, though, Videocon is in a great position to take the reigns from inside Motorola, not to mention that it can easily afford the estimated $3.8 billion USD worth of Motorola.
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.