The new company, to be named Sony Ericsson Mobile Communications, will be equally owned by Ericsson and Sony and will draw upon Ericsson’s experience in telecommunications and Sony’s knowledge of consumer electronics products.
According to a statement made by the companies, Sony Ericsson Mobile Communications will start operations on October 1 this year, based in London, but depending on the completion of a definitive agreement and applicable regulatory requirements.
The joint venture will be responsible for product research, design and development, as well as marketing sales, distribution and customer services, with Ericsson and Sony providing support through an increasing level of cooperation.
By combining the complementary strengths of Ericsson and Sony, the new company is uniquely positioned to become a world leader in telecommunications, as the industry moves rapidly toward Mobile Internet, said Kurt Hellström, Ericsson president and CEO. We are a perfect match. Sony brings vast experience in consumer electronics and entertainment – music, pictures and games – and Ericsson contributes with our mobile technology lead and the world’s largest customer base among mobile operators. This is the ideal partnership for the growing market of 3G and Mobile Internet.
Sony Corporation president and COO Kunitake Ando said, The mobile phone industry is fast moving toward multi-media broadband and poised to grow significantly in the years to come. Millions of customers will require mobile handsets that can handle rich content such as movies, pictures and games smoothly and effortlessly, regardless of their location. Our collaboration with Ericsson, the undisputed leader in the global telecommunications industry, holds significance for us in creating an ubiquitous value network that is always connected, on demand and interactive.
