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Sony completes Sony Ericsson buyout, renames mobile subsidiary

Sony has completed its full acquisition of Xperia Play partner Sony Ericsson, buying out Ericsson's remaining 50 percent stake for 1.05 billion euros ($1.5 billion) in cash.
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.]

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