With rumours of the deal hitting at the start of the month, Japan electronic giant Sony has confirmed that it will acquire Ericsson’s 50% stake in the Sony Ericsson joint venture for €1.05 billion, making the company a wholly-owned subsidarary of Sony as it integrates the mobile company into its electronics divisions, Ericsson has confirmed in an email announcement.
Sony aims to “rapidly integrate” the company’s smartphones into its rich product lineup, which already includes tablets, TVs and PCs, also licensing the handset maker’s patents that which cover “five essential patent families relating to wireless handset technology”.
Sony Ericsson has enjoyed relative recent success after becoming unprofitable in its early years, particularly as it continued to output Symbian-powered devices as the market shifted to smartphone devices. However, the company decided to gamble on Google’s Android operating system, which has resulted in a number of powerful and stylish new smartphone devices, slowly bringing the company back to profitability.
The transaction has already been approved by both companies and is expected to be made official in January 2012. Once completed, Ericsson will have no guarantees relating to Sony Ericsson and will not longer be part of the company’s balance sheet.
> as it continued to output Symbian-powered devices as the market shifted to smartphone devices.
Not that accurate, they produced a very small number of Symbian phones (The Vivaz and the Vivaz Pro, from memory) which suffered major problems, before abandoning Symbian and concentrating on Android.
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Likei just hope they don't the same mistake as in the past with their shit phones and they have learned something all these years with Ericsson.
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LikeWell Sony was there before by itself and made their names through Ericsson,It is a bit sad, 30-40 years ago Ericsson co invented the NMT cell-phone system together with the national telecom companies of Scandinavia. They was the biggest producer of cell phones untill the end of the 90s. Now they will stay as the biggest producer of the cell phone technology. Ericsson is still one of the biggest companies in the telekom world, you are just not going to see their brand on the phone anymore. They are there still inside of phones from most brands. It makes sense for Ericsson to only deliver the technology and let others figure out and take the risk of not shooting the golden consumer bird... The game of consumer products are very unstable, the productions of the technology that all companies need to produce their toys are much more stable.. Ericsson never understood the consumer market, but are still the best on technology. This gamechanger make all the sense to me...
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I can see greater integration between their phones and the rest of their products, which can be a good thing especially to Sony fans.
Franklin is right ..It's Euro..
Took a while... And around 8% of the valuation for moto mobility.
took years longer than expected.
I think its 1.05 billion euro not dollar