Wednesday, October 26, 2011

Sony to Buyout Ericsson's Share in Sony Ericsson

Sony will pay EUR 1.05 billion in cash to acquire Ericsson's 50 percent stake in Sony Ericsson Mobile Communications AB. The mobile handset vendor will become a wholly-owned subsidiary of Sony when the deal closes in January 2012.

Sony said it plans to rapidly integrate smartphones into its broad array of network-connected consumer electronics devices - including tablets, televisions and personal computers.

  • In 2001, Ericsson and Sony merged their mobile phone businesses worldwide and they have run it as a 50/50 venture ever since.

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