Company is renamed Sony Mobile Communications, with Bert Nordberg remaining as president and CEO
Sony has completed its purchase of Ericsson’s share of Sony Ericsson for €1.05 billion (£871 million), putting an end to the 10 year joint venture between the two firms.
The company has been renamed Sony Mobile Communications, with Bert Nordberg remaining as president and CEO. The company also retains its headquarters in London.
Sony unveiled the debut handset under its own brand name, the Xperia S, at the Consumer Electronics Show (CES) in Las Vegas last month. It will go on sale in the UK on March 9 across all mobile networks, except Vodafone.
As part of the deal, Ericsson is signing over five patent families from its portfolio. It will also continue to cross-licence other intellectual property for Sony.
Sony said in a statement: “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.”
When the announcement was made in October, Sony chairman, CEO and president Sir Howard Stringer (pictured right with Ericson CEO and president Hans Vestberg) said: “This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers, who want to connect with content.
“With a vibrant smartphone business and by gaining access to important strategic IP, notably a broad cross-license agreement, our four-screen strategy is in place. We can more rapidly and more widely offer consumers smartphones, laptops, tablets and televisions that seamlessly connect with one another and open up new worlds of online entertainment.”