Indian consumer electronics heavyweight Videocon says that it is engaged in talks with Motorola to buy the U.S. company's handset business. Videcon, which makes air conditioners, refrigerators and other products, said earlier this year that it wanted to manufacture mobile phones to support its telecom businesses. It also said in early April that it planned to make a bid for Motorola's business.
Motorola announced earlier this year that it was planning to separate its handset business from its other operations. Analysts say that Motorola's handset business is worth about $3.8 billion. The firm's handsets make up about 15 percent of the global market for wireless handsets.
For more:
- see this Business Standard story
Related stories:
Videocon to bid for Motorola's handset biz. See this Motorola story.
What will happen to Motorola's handset division? See this Motorola story.