Sony Ericcson Xperia Play
Today Sony Corporation (NYSE:SNE) and Ericsson have announced that their joint venture, Sony Ericsson Mobile Communications AB (aka Sony Ericsson), will become a wholly-owned subsidiary of Sony Corporation.
According to the announcement, Ericsson will receive 1.05 billion euros ($1.47 billion) in cash. Sony also gets ownership of ‘five essential patent families’ as part of the transaction, which is expected to close in January 2012.
Sony says that now its ‘four-screen strategy’ is in place, as CEO Howard Stringer explained:
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… We can help people enjoy all our content – from movies to music and games – through our many devices, in a way no one else can.”
Ericsson and Sony have a webcast scheduled for 6pm (Japan Standard Time) on Ericsson’s Investor Relations page.
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