Sony completes Sony Ericsson buyout, launches new brand
Sony Mobile Communications is born out of Sony's $1.47 billion acquisition of Ericsson's half of their long partnership.
Sony completed its buyout of the Sony Ericsson brand today and renamed the venture Sony Mobile Communications.
The new effort aims to "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," the company said in a statement announcing the deal's closure.
The last major stumbling block to the acquisition was removed late last month when the European Commission gave its approval to the $1.47 billion deal, which was announced last October. Sony also assumed ownership of mobile phone patents and got other patent rights through a cross-license deal with Ericsson.
The buyout ends Sony's 10-year mobile-phone joint venture with the Swedish handset maker. The partnership linked Sony's electronics experience with Ericsson's telecommunications technology. Sony Ericsson, late to recognize the rise of a new generation of smartphones, was a fervent Android partner with its Xperia line.