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Sony takes full control of Sony Ericsson

Sony has paid Ericsson €1.05 billion to gain full control of the Sony Ericsson mobile phone joint venture.

The Japanese electronics corporation announced that it bought the 50-per-cent stake of its Swedish partner on 27 October.

Sony says the move will allow it to “integrate smartphones into its broad array of network-connected consumer electronics devices—including tablets, televisions and personal computer”.

“With a vibrant smartphone business and by gaining access to important strategic [intellectual property], notably a broad cross-license agreement, our four-screen strategy is in place,” said Sony chairman Howard Stringer.