Motorola's logo

Lenovo Group Ltd. (OTCPK: LNVGY) is reportedly buying Motorola Mobility from Google Inc. (NASDAQ:GOOG) for at least $2 billion.

The deal will include more than 10,000 patents that Motorola currently holds, according to China Daily. Reuters reported that purchase could cost Lenovo as much as $3 billion.

Lenovo was the world’s largest vendor of personal computers in 2013, and the deal could make the Chinese technology company a major competitor to Apple and Samsung in the global smartphone and tablet market. Lenovo is expected to introduce its mobile devices to Western markets in 2015.

Motorola Solutions Inc. (NYSE:MSI) separated the mobile technology division of its company in February 2010, and Google purchased Motorola Mobility in August 2011 for $12.5 billion, its largest ever purchase. Since then, Motorola has been a losing venture for Google, costing the Mountain View, Calif.-based company $258 million in the third quarter of 2013.

The sale could mean the end of Google's attempt at manufacturing its own smartphones and tablets.

None of the companies involved have made a statement yet, but Lenovo has said that it will make an announcement regarding a “major acquisition” Thursday morning in Beijing.

Lenovo announced last week that it also plans to purchase IBM Corp.’s x86 server unit for $2.3 billion, pending government approval.

Google just released the Moto X, Motorola's first mobile device since Google acquired the company, in August.