Sony has revealed that it has completed the transaction to acquire Ericsson’s 50 pc stake in Sony Ericsson yesterday. The deal was first announced last year on October 27 and now Sony Ericsson is a wholly-owned subsidiary of Sony.
Company has also stated that it will rename Sony Ericsson to Sony Mobile Communications and will integrate mobile business as an important part of its overall electronics business. The formal name change will be completed this month.
Already announced Sony Xperia S will be the first smartphone of Sony Mobile Communications and company is likely to showcase more smartphone models at the upcoming Mobile World Congress.
Details of Sony Mobile Communications:
- President and CEO: Bert Nordberg,
- Corporate Headquarters: London, UK
- R&D sites: Beijing, Lund, Silicon Valley and Tokyo
- Headcount: Approximately 8,000 (as of February 1, 2012)
- Principal business: Design, development, manufacture and sale of mobile phone products
- Stated capital: EUR 100 million ($130.3 million)