Ericsson receives £ 918,000,000 as its share of the company and its patents.
Sony Ericsson to acquire 50 percent stake in their Sony Ericsson mobile phone joint venture to make the company a subsidiary in January 2012.
Tokyo-based electronics maker said in a news release Ericsson will pay £ 918.16 million (USD 1.5 billion) in the agreement that several sets of cross-license patents and intellectual property rights covering.
Sony has so far launched its smartphones through joint venture, which began operations in 1981. The agreement will allow phones to integrate into the overall product lineup, as competitors like Apple and Samsung are doing, and better leverage its broad music and film companies.
"In the past ten years the mobile market has shifted the focus from simple mobile phones for rich smartphones that access to Internet services and content. The transaction is a logical strategic step that takes into account the nature of this development and its impact on the market," Sony said its release.
The tie-up helped turn the ailing phone business of both companies, using well-known brands of Sony phone models such as Walkman and Cyber-shot series.
The joint venture has recently been advanced phones under the brand Xperia, Sony and its gaming, streaming and download services network to work on the Android-based devices.
Sony said that the agreement will allow phones to include in its "four-screen strategy" that aims to offer content and linking smart phones, laptops, tablets and TV.
Sony Ericsson to acquire 50 percent stake in their Sony Ericsson mobile phone joint venture to make the company a subsidiary in January 2012.
Tokyo-based electronics maker said in a news release Ericsson will pay £ 918.16 million (USD 1.5 billion) in the agreement that several sets of cross-license patents and intellectual property rights covering.
Sony has so far launched its smartphones through joint venture, which began operations in 1981. The agreement will allow phones to integrate into the overall product lineup, as competitors like Apple and Samsung are doing, and better leverage its broad music and film companies.
"In the past ten years the mobile market has shifted the focus from simple mobile phones for rich smartphones that access to Internet services and content. The transaction is a logical strategic step that takes into account the nature of this development and its impact on the market," Sony said its release.
The tie-up helped turn the ailing phone business of both companies, using well-known brands of Sony phone models such as Walkman and Cyber-shot series.
The joint venture has recently been advanced phones under the brand Xperia, Sony and its gaming, streaming and download services network to work on the Android-based devices.
Sony said that the agreement will allow phones to include in its "four-screen strategy" that aims to offer content and linking smart phones, laptops, tablets and TV.
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