Google is not averse to taking risks, but it's also a company that has to make a profit. That's why Google surprisingly put in a bid to buy cellphone company Motorola Mobility in the summer of 2011, and also why it is selling it now.
Motorola's Moto G has been a hit so far - offering a low-cost unlocked phone that comes with some very respectable hardware. Now Google is offering the Moto G Google Play Edition, as if the Moto G wasn't Google enough.