27 Oct '11, 9am

Sony buys Ericsson out of mobile phone venture

STOCKHOLM - Sony is to buy full control of the Sony Ericsson mobile phone venture from its Swedish partner as it seeks to boost its consumer products offering and to catch up on smartphone and tablet makers such as Apple and Samsung. The €1.05 billion deal (S$1.85 billion) gives Sony ownership of certain handset patents held by Ericsson and will enable it to integrate the joint venture's output with its own range of products and online content. Until now Sony's tablets, games and other consumer electronics devices have been kept separate from the phones sold by Sony Ericsson. "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," Sony's chairman and chief executive Sir Howard Stringer said. A buyout by Sony had long been talked of, and a sou...

Full article: http://www.todayonline.com/Business/EDC111027-0000453/Son...

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