AfterDawn: Tech news

Sony preparing to buy out Ericsson stake in phone venture

Written by Andre Yoskowitz (Google+) @ 07 Oct 2011 2:33

Sony preparing to buy out Ericsson stake in phone venture Sony is said to be near a deal to buy out Ericsson's half of the joint smartphone venture Sony Ericsson.
The company is looking to reunify its brand, one that has been split in past years.

Tablets, gaming devices and consumer electronics have been sold under the Sony name while smartphone and media players have been sold under the Sony Ericsson brand.

The 10-year pact between the companies comes up for renewal this month, but it appears unlikely it will be renewed if Sony can get a good price.

A deal could be valued at as high as $1.3 billion, dependent on Ericsson's telecoms patents.

The joint venture lost an astounding 836 million euros in 2010.

Tags: Ericsson Sony
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