JAPANESE ELECTRONICS FIRM Sony has completed the buyout of its joint venture Sony Ericsson.
The firm will rename the company Sony Mobile Communications and said it will "accelerate business integration" of the mobile business into its electronics business. It said it aims to speed up "convergence between Sony's lineup of network enabled consumer electronics products, including smart phones, tablets, TVs and PCs".
In October last year, we reported that Sony planned to buy Ericsson's stake in its mobile phone venture for €1.05bn.
Sony Ericsson was a joint venture of two ailing phone makers back in 2001 and, while some might question how strong the firm is now against its rivals, Sony decided to buy out Ericsson's stake by paying its partner €1.05bn.
Back in 2001 when the Sony Ericsson joint venture was announced both firms' handset divisions were losing money, and while Sony Ericsson's financials have never been stellar, it has reported profits. The company has claimed that its Android smartphones accounted for 11 per cent of the smartphones sold.
Sony Ericsson cited Google's Android operating system as the reason for its success in the smartphone market. While the company doesn't have any killer smartphones, its Xperia range hasn't embarrassed itself competing against rival smartphones built by HTC and Samsung.
Sony's first phone release outside of the joint venture will be the Xperia S, which it is due to launch in March. µ