Last updated: October 27, 2011 - 8:55am
Sony is to take full ownership of its Sony Ericsson joint venture with Ericsson in a move designed to bolster its position in the mobile handset market.
The deal, which had been rumored for weeks, will involve Sony paying its former partner €1.05bn cash for its share. It also marks a definitive exit from the mobile handset manufacturing business for Ericsson – which was once a leading player in the sector – and will allow the Swedish company to concentrate on its network gear business. Although they have dismantled their long-standing manufacturing joint venture, Sony and Ericsson said they would enter a new collaboration to create wireless connectivity across a variety of electronic platforms.
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