Sony will be buying out Ericcson’s shares in Sony Ericsson, for $1.45 Billion
The mobile phone company will come under the control of Sony, allowing it to integrate its mobile functions with the rest of its product lines. Howard Stringer, CEO, President & Chairman of Sony said:
“With a vibrant smartphone business and by gaining access to important strategic IP, notably a broad cross-license agreement, our four-screen strategy is in place. We can more rapidly and more widely offer consumers smartphones, laptops, tablets and televisions that seamlessly connect with one another and open up new worlds of online entertainment. This includes Sony’s own acclaimed network services, like the PlayStation Network and Sony Entertainment Network.”
Ericcson will now take a role where it will concentrate on the connectivity issues with Sony devices and also focus on R&D, Ericsson’s CEO Hans Vettburg announced.
“Today we take an equally logical step as Sony acquires our stake in Sony Ericsson and makes it a part of its broad range of consumer devices. We will now enhance our focus on enabling connectivity for all devices, using our R&D and industry leading patent portfolio to realize a truly connected world.”
Sony Ericsson last big gaming-related launch was the Xperia Play, which has seen underwhelming performance so far.