Sony buys out Ericsson from mobile deal

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.