Photo: Sony Ericsson
Sony has bought control of Ericsson’s mobile phone business for $1.45 billion, reports Reuters.Sony made the deal in order to bolster its consumer product line and keep up with handset and tablet companies like Apple.
Ericsson said that the deal provides Sony with “five essential patent families relating to wireless handset technology.”
Pete Cunningham, an industry analyst at Canalys, told Reuters that “Sony now has all the components to compete with Samsung and Apple. The big question now is…can it execute? Based on history I am sceptical but I would not say it cannot be done.”
Ericsson shares were up 5% on the news.