Not only is the honeymoon state over and done with between Sony and Ericsson, so is the entire marriage that formed the Sony Ericsson union. Sony on Thursday announced it will acquire Ericsson's 50 percent stake in the mobile partnership, effectively making the mobile handset business a wholly-owned subsidiary of Sony.
Sony Chairman Sir Howard Stringer called this "the beginning of something... quite magical," suggesting that the buyout will put Sony in a better position to cater to laptop, smartphone, tablet, and television customers "more rapidly and more widely" than before, according to a Reuters report .
"Ten years ago when we formed the joint venture, thereby combining Sony’s consumer products knowledge with Ericsson’s telecommunication technology expertise, it was a perfect match to drive the development of feature phones. Today we take an equally logical step as Sony acquires our stake in Sony Ericsson and makes it a part of its broad range of consumer devices. We will now enhance our focus on enabling connectivity for all devices, using our R&D and industry leading patent portfolio to realize a truly connected world," said Hans Vestberg , President and CEO of Ericsson.
Ericsson said the deal provides Sony with a broad IP cross-licensing agreement and ownership of five essential patent families relating to wireless handset technology.