After 10 years, Sony Ericsson may soon be no more. In a joint press conference held in London on Oct 27, 2011, the Sony Corporation and Ericsson announced that the former will be buying over the Swedish company's 50 percent stake for US$1.47 billion.
The transaction will also provide Sony with ownership of five "essential patent families" in an intellectual property licensing agreement.
Sony will focus on a "four screen strategy"--namely tablet, TV, PC and smartphone--which actually also incorporates its gaming business. However, the Sony Ericsson brand name will be sticking around in the short term, until a task force in Japan headed by current Sony Ericsson CEO Bert Nordberg reaches a decision.
Meanwhile, the Sony-Ericsson relationship continues with a "wireless connectivity initiative to drive and develop the market's adoption of connectivity across multiple platforms".
Over the past 10 years, Sony Ericsson has weathered the move from feature phones to smartphones. Currently, Android smartphones account for about 80 percent of Sony Ericsson's handsets. This is set to change, with Sir Stringer announcing the gradual phasing out of feature phones.