Chief Executive of Sony, Hogward Stringer said: that with this acquisition Sony could more quickly and more widely offer smartphones, laptops, tablets and television to consumers that can connect to each other by opening the world of new online entertainment.
Along with the takeover of mobile phone companies entirely, Sony will also get five patents that are key to making a licensing agreement for mobile phones and other intellectual property rights.
The joint venture Sony and Ericsson has been running for 10 years, initially as beneficial to their business. But then they suffered several defeats in the battle of the smartphone market. This acquisition marks a successful step that Ericsson is out of the mobile handset manufacturing business. The agreement is planned to be inaugurated in January 2012.
