Sony completed its planned purchase of Ericsson’s 50 percent stake in Sony Ericsson and turned the company into a wholly owned subsidiary called Sony Mobile Communications.
Sony, which previously owned 50 percent of the joint venture, will integrate the company and its 8,000 employees with 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,” Sony stated. The purchase was promoted by Sony Chairman/CEO/president Howard Stringer. The subsidiary’s headquarters remains in London, and Bert Nordberg remains president/CEO.
