Chinese computer company Lenovo completed its acquisition of Motorola Mobility a few days ago, for $2.91 billion. This brings all of Motorola's smartphone assets over to Lenovo, and has boosted the company into third place on mobile market share.

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President of Motorola Rick Osterloh announced the news on Twitter "Congrats to @Xiaomi for getting to #3 in mkt share. sorry it only lasted for 24 hours until the @Motorola @lenovo deal closed - we're 3 now!"

This comes just a few days after Xiaomi became the third largest mobile maker, surpassing LG. Xiaomi shipped 17.3 million handsets; Lenovo shipped 16.9 million - Motorola's numbers are hidden but expected to be less than 10 million.

Either way, it is enough to give Lenovo the third place spot, although the combined numbers still could not surpass Apple's 39.3 million sales. This might be due to the huge growth of iPhone sales in the past month, with a potential 30 million iPhone 6 and iPhone 6 Plus sales.

In terms of yearly growth, Xiaomi is still miles ahead of Lenovo and Motorola. The Chinese startup saw a 211 percent jump in sales during the third quarter of 2014, compared to the same period the previous year; Lenovo reported a 38 percent increase.

Lenovo will play a more active role in the happenings at Motorola. The Chinese company is already moving production over to China, removing the U.S. plants built by Motorola in Fort Worth, Texas.

Google already removed most of the employees at Motorola to cut costs, meaning Lenovo can use the Motorola name, design and promotional teams to keep an active presence in the U.S. without actually having huge manufacturing divisions in America.

Even though Lenovo is a new-ish company, it is seen as old in the U.S. and China. This has made Xiaomi such a well liked alternative, because it is seen as the trendy new company, who wants to make incredibly cost efficient smartphones.

Lenovo is making a new brand for 2015 to counteract the problems with their current brand, and will sell phones only through online routes, similar to Oppo's OnePlus subsidiary.

TagsMotorola Mobility, Chinese smartphone market