Lenovo Chief Executive Yuanqing Yang said his company purchased Motorola with the goal of surpassing Apple and Samsung, the current leaders in the smartphone market.
Earlier this week, Google agreed to sell parts of Motorola to Lenovo for $2.91 billion. Combining Motorola and Lenovo's smartphone businesses would put Lenovo just behind Samsung and Apple.
Asked Thursday by CNN Money if Lenovo can catch up to Apple and Samsung, Yang said, "Definitely, over time. Our mission is to surpass them."
Lenovo is already a smartphone leader in China and emerging markets, while Motorola has established brands in the U.S., Latin America and parts of Europe. Yang said Lenovo will leverage both brands to compete in all of those markets.