Sony announced that it has acquired the stake of Ericsson in venture Sony Ericsson for the sum of €1.05 billion or $1.47 billion. This deal was first announced 4 months back. This is the end of Sony’s 10-year mobile-phone joint venture with the Swedish handset maker. Now Sony Ericsson will be called as Sony Mobile Communications.
Sony Mobile Communications has approx 8,000 employees, and is headquartered in London.
“The new effort aims to 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,” company said in a statement.
Every new phone launched from the company will have the brand name Sony Mobile Communications. However, the existing range of devices out in the market will continue to bear the Sony Ericsson name.
