Sony Buys Ericsson Out of Mobile Phone Venture

Sony Corp. is taking over the Sony Ericsson mobile phone joint venture for 1.05 billion euros ($1.45 billion), as it seeks to catch up with smartphone and tablet makers Apple and Samsung, Reuters reported Thursday. The deal gives Sony ownership of certain handset patents held by Ericsson and will enable it to integrate the joint venture's output with its own range of products and content. Until now Sony's tablets, games and other consumer electronics devices have been kept separate from the phones sold and created by Sony Ericsson, Reuters wrote.

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