Sony Finalizes Separation from Ericsson; Now Called Sony Mobile Communications

[dgstorm]

Sony has released a press statement indicating they have officially separated from the Ericsson brand name for their mobile division. The partnership was formerly a joint venture with Telefonaktiebolaget LM, but now that Sony has purchased the other 50% stake for $1.37 billion, the new name for Sony's mobile division is Sony Mobile Communications. Here is Sony's full press release:

Sony Completes Full Acquisition of Sony Ericsson

Sony to Rename the Company Sony Mobile Communications and Accelerate Business Integration
February 16, 2012, Tokyo, Japan - Sony Corporation ("Sony") today announced that the transaction to acquire Telefonaktiebolaget LM Ericsson's ("Ericsson") 50% stake in Sony Ericsson Mobile Communications AB ("Sony Ericsson") has been completed as of February 15, 2012 (Central European time). This marks the completion of the transaction jointly announced by Sony and Ericsson on October 27, 2011, and makes Sony Ericsson a wholly-owned subsidiary of Sony.

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.

Source: Engadget and Sony

 

[geckoT2C]

another one bites the dust