Following the announcement four months ago, Sony finalized the split from Ericsson in their mobile phone joint venture this week. The move cost Sony a reported €1.05 billion ($1.37 billion), and the new company has been renamed Sony Mobile Communications.
Press Release:
Sony to Rename the Company Sony Mobile Communications and Accelerate Business Integration
February 16, 2012, Tokyo, Japan – Sony Corporation (“Sony”) today announced that the transaction to acquire Telefonaktiebolaget LM Ericsson’s (“Ericsson”) 50% stake in Sony Ericsson Mobile Communications AB (“Sony Ericsson”) has been completed as of February 15, 2012 (Central European time). This marks the completion of the transaction jointly announced by Sony and Ericsson on October 27, 2011, and makes Sony Ericsson a wholly-owned subsidiary of Sony.
Sony will rename Sony Ericsson “Sony Mobile Communications”, and further integrate the mobile phone business as a vital element of its electronics business, with the aim of accelerating convergence between Sony’s lineup of network enabled consumer electronics products, including smart phones, tablets, TVs and PCs.
Mickey Papillon
Joey Koppes
[...] Source: http://thecellphonejunkie.com/2012/02/15/sony-completes-buyout-of-ericsson-sony-mobile-communication… [...]
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