Sony to take over Sony Ericsson, pays $1.47 billion
- Category: Sony
- Thursday, 27 October 2011 13:35
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- by Kunal Khullar
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This is some big news; Sony has announced that it will take full control of mobile phone maker Sony Ericsson from Swedish telecoms equipment maker Ericsson. Sony has come to terms and has agreed to buy 50% of the firm for $1.47 billion. With this Sony Ericsson will be completely owned by Sony and will fall under their various line of consumer electronic products.
Various patents have also been dealt which will give Sony the license to make the phones and a licensing agreement on any other intellectual property. The joint venture will finally end and the transaction should be completed by January 2012.
So will this be a big impact on the phone manufacturing company? Well, we’ll keep you updated on this.
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