Sony to spend 1.05 billion euros buying out Ericsson

We reported a while ago that Sony may be buying out Ericsson from their mobile phone partnership. They have settled on 1.05 billion euros in cash for their share in the company.

The agreement looks to be settled by January 2012 and it will mean that Sony Corp will have complete control over the mobile phone section of their business. With Sony on their own, they could add Google Android software to a range of devices which are already proving popular with the public globally.

The partnership between Sony and Ericsson was set up in 2011, with the goal in mind that they would knock Nokia from the top spot. Sony have been looking at the partnership now for a while as the business has grown more important for them, especially in regards with export to various parts of the world.

Ericsson will now have more time to focus on sales of wireless transmission devices and other services.

Kitguru says: A good move for Sony?

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