Sony Corporation today announced that the transaction to purchase Ericsson’s half of Sony Ericsson has been completed. The transaction was completed as of February 15, 2012 Central European Time. As Sony Corporation CEO Sir Howard Stringer revealed at CES in Las Vegas this year, the new division of Sony is called Sony Mobile Communications.
Sony said in a release Wednesday:
Sony will rename Sony Ericsson “Sony Mobile Communications”, and further integrate 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.
More after the break
We can expect more integrated devices across multiple channels now that the Sony mobile unit is under the same umbrella.
This transaction certainly doesn’t leave Ericsson out in the cold. Ericsson will continue to grow it’s network and infrastructure business. Ericsson is one of the largest supplier of key components involved in the build out of 4G/LTE networks. As it looks like 4G/LTE is the globally accepted form of 4G, there is plenty of opportunity still for Ericsson.
Internet reports that Sony paid somewhere between $1.5 billion and $1.7 billion to buy out Ericsson.