07 Oct '11, 5am

Sony to buy Ericsson out of phone venture: Report

Sony to buy Ericsson out of phone venture: Report

In a push to enhance its smartphone business, Japan's Sony is nearing a deal to buy out Swedish telecom firm Ericsson's stake in their mobile phone joint venture, according to the Wall Street Journal. -- PHOTO: REUTERS TOKYO (AFP) - In a push to enhance its smartphone business, Japan's Sony is nearing a deal to buy out Swedish telecom firm Ericsson's stake in their mobile phone joint venture, according to the Wall Street Journal. By wresting full control of the 50-50 partnership, Sony aims to integrate its smartphone operation with its tablet, hand-held game console and personal computer businesses to save on costs and better synchronise development of mobile devices, the paper quoted people familiar with the matter as saying. Sony shares tumbled 3.12 per cent to 1,424 yen (S$24.19) on Friday morning, despite the benchmark index rising one percent in morning trade. 'Sony h...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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