Schmidt: Google won't favor Motorola over other Android players

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Schmidt said the acquisition of Motorola Mobilty was motivated by the desire to have "a hardware partner at Google who knows how to build the next generation of tablets and phones," suggesting the firm intends to use Android to go head-to-head against Apple's ubiquitous iPad.

Schmidt also lamented the inability of U.S. politicians to reach compromises and make investments in the productive parts of society like other nations have. He noted many Asian nations are growing faster despite a less sophisticated education and healthcare systems.