Sony is paying Ericsson a 1 billion to buy out its share of the Sony Ericsson joint venture.Sony will take sole control of the mobile phone firm - which was previously owned 50/50 by the two companies - in a bid to better integrate smartphones into its full range of consumer devices.
It's the culmination of Sony's so-called "four-screen strategy", which sees the company deliver hardware and services across smartphones, PCs, televisions and tablets.
Sony chairman Sir Howard Stringer said the deal will allow the company to act more nimbly and cost effectively in the smartphone market.
This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers, who want to connect with content wherever they are, whenever they want," he 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," he added. "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."
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