Sony Corporation announced that the transaction to acquire Ericsson’s 50 percent stake in Sony Ericsson is now complete.
The organisation is now officially known as Sony Mobile Communications, part of the Sony Group and a wholly-owned subsidiary of Sony.
Press Release as follows:
Sony Completes Full Acquisition of Sony Ericsson
Sony to Rename the Company Sony Mobile Communications and Accelerate Business IntegrationFebruary 16, 2012, Tokyo, Japan - Sony Corporation (“Sony”) today announced that the transaction to acquire Telefonaktiebolaget LM Ericsson’s (“Ericsson”) 50% stake in Sony Ericsson Mobile Communications AB (“Sony Ericsson”) has been completed as of February 15, 2012 (Central European time). This marks the completion of the transaction jointly announced by Sony and Ericsson on October 27, 2011, and makes Sony Ericsson a wholly-owned subsidiary of Sony.
Sony will rename Sony Ericsson “Sony Mobile Communications”, and further integrate the mobile phone business as a vital element of its electronics business, with the aim of accelerating convergence between Sony’s lineup of network enabled consumer electronics products, including smart phones, tablets, TVs and PCs.Company Overview
New company name: Sony Mobile Communications AB
Date of name change:February 2012 (planned)
Representative: Bert Nordberg, President and CEO
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