News by Michael Oryl on Friday May 23, 2008.
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India's Business Standard, a daily business newspaper, is reporting that India based Videocon is a "likely" to buy Motorola's ailing mobile phone division. According to the report, Videocon CEO Venugopal Dhoot said today that his company was already in initial stage talks with Motorola.
Videocon is a manufacturer of consumer goods, including computer monitors and televisions, kitchen appliances, and audio equipment. It also owns a large oil field that produces 50,000 barrels of oil per day.
Analysts currently estimate Motorola's cell phone division to be worth somewhere in the realm of US$3.8 billion. [via mocoNews]