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October 7, 2011

Sony in talks to buy Ericsson out of phone venture: report

To integrate its smartphone operation with its tablet, game console and PC units 

By CBR Staff Writer

Tokyo-based electronics company Sony is reportedly planning to buy out Swedish telecom firm Ericsson’s stake in the mobile phone joint venture they have operated since 2001.

According to a report from the Wall Street Journal, Sony-Ericsson has fallen behind competition in making the transition from feature phones to smartphones. Sony aims to integrate its smartphone operation with its tablet, game console and personal computer units.

The company hopes gaining full control of the 50-50 partnership will result in cost savings as well as improved development of mobile devices, said the report.

The WSJ said that Sony’s inability to oversee mobile-phone development directly has become a hindrance in the development of modern phones.

Sony chief executive Howard Stringer wants to settle the matter as soon as possible, said the report.

Earlier, Stringer had said about the JV, "We talk a lot about this and we continue to talk."

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