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Sony buys Ericsson out of mobile partnership

Company to pay £900 million to end decade-old joint venture

Sony is to buy Ericsson out of the companies' decade-old joint mobile phone venture.

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As previously rumoured, the deal will enable Sony to integrate its smartphone business with its gaming, tablet and PC units to cut costs and better synchronise its product development strategy.

Ericsson also said it gives Sony ownership of "five essential patent families relating to wireless handset technology".

"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," said Sony boss Howard Stringer.

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[ SOURCE: Reuters ]

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