Sony Ericsson laid to rest as buyout is finally completed
Sony’s buyout of the Sony Ericsson brand has finally been completed, signalling the end of the Sony/Ericsson partnership as Sony move towards making smartphones with their own, sole branding.
First announced back in October, the deal is estimated to have cost Sony £871 million.
“Sony Corporation today announced that the transaction to acquire Telefonaktiebolaget LM Ericsson’s 50 per cent stake in Sony Ericsson Mobile Communications AB has been completed as of February 15, 2012 (Central European time),” read a company statement.
“This marks the completion of the transaction jointly announced by Sony and Ericsson on October 27, 2011, and makes Sony Ericsson a wholly-owned subsidiary of Sony.”
With the move finalised, Sony will now be pushing their mobile operations under the Sony Mobile Communications banner.
This new division will see further integration in “the mobile phone business as a vital element of its electronics business, with the aim of accelerating convergence between Sony’s lineup of network enabled consumer electronics products, including smart phones, tablets, TVs and PCs”.