Sony to acquire remaining 50% of Sony Ericsson for €1.05 billion

Sony has announced it is to acquire the remaining 50 per cent share in Ericsson for €1.05 billion in cash.

The previously rumoured move gives the Japanese firm complete control over the Swedish company, bringing all mobile operations in-house for the first time.

"This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers, who want to connect with content wherever they are, whenever they want," said Sony CEO Sir Howard Stringer. 

"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."

The business for a billion

Stringer said the move would allow Sony Ericsson to deliver phones "more rapidly and more widely", connecting them with the other electronics the company produces.

"We can help people enjoy all our content from movies to music and games through our many devices, in a way no one else can," he conclued.

Whether this interconnectivity will also extend to a new 'PlayStation Phone', like the Xperia Play, or whether Sony will now drop that model to focus exclusively on more standard handsets to compliment the Vita is unclear.

What the move does demonstrate, however, is the increasing importance of the mobile sector to the large electronics firms such as Samsung, LG, and now Sony.

[source: Sony Ericsson]