Sony is cutting itself loose from its European partner in smartphones. The company announced Thursday that it will acquire Ericsson's 50 percent share in their Sony Ericsson venture, making the mobile handset business a fully owned subsidiary of Sony. Ericsson will receive cash compensation of $1.5 billion. Sony Ericsson produces a wide-range of smartphones, including Android models. The transaction will give Sony an opportunity to swiftly integrate smartphones into its broad array of network-connected consumer electronic devices, including tablets, televisions and PCs.
e-Commerce Times