Sony spends a billion euros to buyout handset partner Ericsson

Sony spends a billion euros to buyout handset partner Ericsson
Sony has succeeded in their bid to buy out Ericsson's share of their jointly owned Sony Ericsson handset and mobile device company. The deal will cost Sony $1.05 euros and also include a patent cross-licensing deal.

More importantly for Sony, gaining full ownership of Sony Ericsson will clear the way to integrate the company's devices into Sony's online entertainment network and offer a broad range of Sony owned content from companies like Sony Pictures and Sony Music Entertainment.

According to a statement from Sony Chairman, CEO & President Howard Stringer:

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,

The deal is expected to close next January.

Written by: Rich Fiscus @ 27 Oct 2011 12:10
Sony Ericsson Buyout
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  • RichardvonBacon

    What's $1.05 euros?

    27.10.2011 14:18 #1

  • llongtheD

    Originally posted by RichardvonBacon: What's $1.05 euros? I'm pretty sure the article was meant to read 1.05 billion euros, as suggested in the title of the article. Sony can keep their seamlessly connected products and network, as well as their root kits.

    28.10.2011 00:14 #2

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