Sony Buys out Ericsson for €1.05 Billion

Sony Ericsson announced that Sony will be buying out Ericsson’s shares of the company making itself whole once again. The deal came out to a €1.05 billion ($1.45 billion) cash payment.

Sony CEO Howard Stringer said, “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. This includes Sony’s own acclaimed network services, like the PlayStation Network and Sony Entertainment Network.”

This acquisition allows Sony to play in all markets. In the mobile market, the only product they had was the Xperia Play with the PlayStation Suite platform on board that played classic PS titles. Now they have the whole phone-making company at their disposal once again allowing them to effectively compete in the market that’s eating up the handheld business’s lunch. Along side that, we have the PlayStation Vita on the way to cater towards a more hardcore mobile gaming experience.

With that Sony also has two tablets, the Tablet S and the Tablet P running off Andriod Honeycomb 3.1. With TVs, mobile phones, tablets, handhelds, and other devices it paves the way for Sony to really nail a cohesive experience across the board.

Last but not least, the deal also grants Sony the much needed technology patents that they will need to play ball in the legal-rich mobile industry.

For some it has been a long time coming, but with Sony being whole again, expectations are high.

Source: Gameindustry


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Author: VTV Staff View all posts by