Swedish telecom equipment supplier, Ericsson, said it would sell its 50 percent on his Sony Ericsson to their partner, Sony. The total value of these sales could reach U.S. $ 1.47 billion.
“Sony will own 50 percent of Sony Ericsson Ericsson devices so that the business is wholly owned by Sony,” as stated by the representatives of Ericsson, said in a statement. Statement of Ericsson is confirming rumors that have long rumored that the company would leave Sony Ericsson. In addition, this announcement is indirectly dismissed rumors that Sony might abandon this cooperation.
Cooperation “between Japan and Sweden” was initiated in 2001 by combining Sony Ericsson and a cell phone less marketable products. The combination of these two vendors to make your current business into six major mobile devices. In a statement, Ericsson has shown that the cell phone market has changed dramatically over the last decade, with the goal of a massive shift in smartphones.
“Ten years ago we agreed to form a joint venture. The fusion of knowledge of consumer products that are owned by Sony and Ericsson that has specialized in communications technology is the perfect blend for industrial telephone control function” Ericsson said CEO Hans Vestberg said in a statement.
“Today we have the same logical, Sony acquired our stake in Sony Ericsson and become a part of the full range of existing consumer products,” said Hans Vestberg.
In addition, Ericsson will focus on the mobile market as a whole by maximizing the portfolio of research and development and patent of the industry to realize the world is truly connected. Meanwhile, Sony held all intellectual property belongs to the two together, covering all Sony products and services, including ownership of patents related to five major mobile wireless technology.
Both companies will continue to work together to create a wireless initiative is expected to promote and develop the market adoption of connectivity across multiple platforms. The transactions amounted to U.S. $ 1.47 million cash, has been approved by both companies, but is still pending regulatory approval. The transfer of shares is expected to be completed in January 2012.
