Google stock shares are up nearly 3% in pre-market trading

One Man's Trash, Another Man's Treasure: Google Inc. (Nasdaq: GOOG) will sell its Motorola smartphone division to China's Lenovo Group (OTC: LNVGY) for $2.9 billion. The deal is a staggering loss for the Internet giant, which purchased Motorola Mobility in 2012 for $12.4 billion and was supposed to establish Google dominance in the mobile phone industry. Motorola has lost $2 billion since the acquisition and shaved its workforce by more than 80%. The deal provides the Chinese computer manufacturer with a strong brand as it will attempt to expand its operations in China and around the world. Google shares are up nearly 3% in pre-market trading.

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