Ericsson to sell it's share to Sony

Ericsson has announced that it is selling it's share of the Sony Ericsson joint venture to Sony for $1.47 billion (€ 1.05 billion). The Japan based Sony Corporation will become the sole owner in an attempt to boost it's mobile portfolio and presence in the mobile industry.

The deal has already passed approval from the boards of both companies and now needs to pass regulatory approval which should be done by January 2012.

Sony Ericsson will be integrated into Sony's line of consumer electronics and will also bring Ericsson's patent portfolio. We can expect to see more of Sony's technologies, like PlayStation, Cybershot, Walkman and Bravia integrated into the coming generation of devices from the company.

source - Ericsson