Sony in talks to buyout mobile venture from Ericsson

7 years ago by in Around the world

All Japan newsese tech giant Sony is discussing a takeover of its share in the joint-venture with Swedish phone maker Ericsson, according to sources close to the matter.

Sony is looking for ways to reorganize its activities, which are now rather split, at least from a branding perspective. Tablets, gaming equipment and other electronics are sold under the Sony brand, while smartphones are going under the Sony Ericsson name.

The two companies are discussing the future of their venture, since a 10-year-old agreement is coming to an end this month.

A possible deal would amount to about $1.3 billion, according to a J.P. Morgan analyst in Tokyo.

"Up to now Sony’s products and network services have all been separate. Unifying them would be positive. If they can leverage their games and other network services I think they can lift their share," the analyst said.

According to another analyst, from Sanford Bernstein, Ericsson is very interested in closing the venture, as their share in the company “is worth to them between zero and minus 1 billion euros”, so whatever price would be agreed on, “it would be a positive for Ericsson”.

The two companies declined to comment on the information.

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