Sony completes Sony Ericsson buyout, renames mobile subsidiary

Newsbrief: Sony has completed its full acquisition of Xperia Play partner Sony Ericsson, buying out Ericsson's remaining 50 percent stake in the joint venture for 1.05 billion euros ($1.5 billion) in cash. This completes the acquisition which was originally announced back in October, making Sony Ericsson a wholly-owned subsidiary of Sony, and bringing the Xperia Play mobile gaming platform in-house. The company also announced that it is set to rename Sony Ericsson -- in the future, the subsidiary will be known as Sony Mobile Communications, and Sony will integrate its mobile phone business into its electronics business. [Correction: The story originally said Sony completed its acquisition of Ericsson. Sony actually completed its acquisition of Ericsson's stake in the Sony Ericsson venture. We regret the error.]