Sony buys out Ericsson half of partnership

27 October 2011 8:52 GMT / By Ben Crompton

Big mobile news has hit as the Sony Ericsson partnership comes to an end; Sony has decided to buy out long time mobile phone partners Ericsson.

After 10 years in business together the two will part ways, with Sony paying Ericsson over 1.05 billion euros for the remaining 50 per cent stake in the company.

Sony is apparently hoping the move will make it more competitive in the mobile business space, Sony would be rightly jealous of Samsung's current foothold in mobile phones - a direct competitor in other areas of consumer technology.

In the press release, a statement reads, "This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers". This benefit should mainly come through a new focus, not only on the hardware side but through added content sold through the PlayStation Network - Sony's decent market share in televisions and laptops now being joined by, what it hopes, a greater mobile phone and tablet slice of the pie.

The deal is due to reach its conclusion by the end of January 2012.

Will this help Sony in the mobile computing space? Let us know in the comments.

Via: reuters.com

Full tags

Phones, Biz, Sony, Sony Ericsson