India based Videocon is rumored to acquire Motorola's mobile phone division. Motorola is currently leading by number of handsets sold the world's cell phone market.

Despite that, Motorola's mobile phone division is currently selling less phones than last year as competitor's phone are better and better.

Is this a move meant to save Motorola from its decline? Videocon is a huge corporation, manufacturing computer monitors, TV sets, kitchen appliances audio equipment and oil.

They are said to have started their initial talks with Motorola's representatives in order to acquire the mobile phone division.

Such a sale will be completed for a price no lower than $3.8 billion, which is what Motorola is worth now with their 15% share of the mobile market.

Videocon is interested in Motorola as they are getting ready to launch their own wireless network in India later this year where they own their spectrum. Such a step might revitalize Motorola, but I am sure this sale will take a while to be completed.