Andre Yoskowitz
18 Mar 2009 16:17
Although neither company has confirmed or denied the report, Manager-Magazin.de is writing that Sony is planning to buyout Ericsson's 50 percent stake of the Sony Ericsson mobile manufacturing joint venture.
Sony is currently talking to banks that will help finance the buyout and the rumor has been flying for months that Ericsson is willing to sell its stake in the venture.
The company was created as a way to "bring Ericsson's mobile experience and Sony's consumer electronics experience together for a successful line of cell phones." The company had been decently successful with its line of Walkman phones but recently announced Q4 2008 loss of $187 million EUR with more losses expected if the global recession continues.
Danske Bank of Denmark believes any deal made would cost Sony very little cash and could actually lose Ericsson money.