According to a report out of Reuters, Lenovo is about to buy Motorola from Google for $3 billion. Yes, that Motorola, the one that just made a phone we considered to be our phone of the year. The report claims that an announcement could come as early as today, as the companies are in the final stages of talks. Reuters also mentioned that this is a sell-off of the handset business, along with certain patents.

It hasn’t even been three years since Google bought them for $12.5 billion.

We have no idea what this means for the Motorola as we know it today. I think we can all agree that they have done some pretty incredibly things over the last year, especially with the Moto X. We’ll be watching this closely as it unfolds.

Update: China Daily is reporting the news as well. Their sources claim that the price is “at least $2 billion” and that it includes 10,000 patents. Lenovo apparently has a press conference to announce a “major acquisition” Thursday morning.

Update 2: TechCrunch is also reporting that sources of theirs have confirmed the plans. They tossed out the idea that Google has been holding off on selling Motorola “for tax reasons.”

Update 3: It’s now official. All details here.

More as we have it!