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Sony To Buy Out Ericsson From Mobile Phone Joint Venture For $1.5 Billion

     

engine

5:48 pm on Oct 27, 2011 (gmt 0)

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Sony To Buy Out Ericsson From Mobile Phone Joint Venture For $1.5 Billion [uk.reuters.com]
Sony Corp is to take over its mobile phone joint venture with Ericsson for 1.05 billion euros ($1.5 billion), as it seeks to exploit its music and video to help it catch smartphone leaders such as Apple Inc.

The deal to buy out its Swedish partner will enable Sony to better integrate smartphones and other devices with its array of content, from its music label whose stars include Beyonce and Britney Spears, its movie studio whose current hits include Spider Man and Anonymous and its Playstation video games such as Legends of Norrah.