They’re picking up Motorola Mobility from Google:

Lenovo Group Ltd’s purchase of the Motorola Mobility business, a money-losing subsidiary owned by Google Inc, will give the Chinese company advantages in exploring the global tablet and smartphone markets, analysts said.

The comments came after Lenovo said that it will announce a “major acquisition deal” on Thursday.

The deal, worth at least $2 billion, will include a large volume of mobile communications patents currently held by the US company, a person familiar with the matter told China Daily.

Google is smart to get what they can out of Moto, while they can. They’ve sunk billions into that pit trying to “protect” Android, yet still make more income off of search on Apple’s iOS.

As Greg Hill reminds me, Google paid $12 billion for Moto not all that long ago.

It seems almost cruel to remind you, but here’s what Google said about the deal at the time.

DEAL

That didn’t quite pan out.