Sony Looking to Buy Ericsson Out of Joint Venture
Sony is near to reaching a deal that would let it buy Ericsson's stake in the two companies' cell phone joint venture, reports the Wall Street Journal. According to sources familiar with Sony's plans, the company wants to fully control the cell phone and smartphone business so it can more fully integrate those products with its computer, tablet, media player, and other consumer electronics businesses. Sony Ericsson was created by the two companies in 2001 and is currently the world's sixth-largest maker of cell phones. The Journal said that the talks between Sony and Ericsson have been on-again / off-again for years, are still tenuous, and could fall apart at any time. The Journal believes Ericsson's stake in the joint venture is valued between $1.3 billion and $1.7 billion, though it is not clear what Sony would pay to Ericsson to regain full control over the company. Sony wants to be able to more effectively compete against companies such as Apple and Samsung.
Comcast Details Mobile Phone Service as Xfinity Mobile
Comcast today revealed details of its forthcoming Xfinity Mobile phone service. The company will use Verizon's 4G LTE network for the service, using an existing MVNO agreement.
Sony to Buy Toshiba's Camera Sensor Business
Sony has agreed to acquire Toshiba's camera sensor business for $155 million. Under the terms of the deal, Sony and its subsidiary, Sony Semiconductor Corporation, will acquire a fabrication facility, equipment, 1,100 employees, and other assets associated with Toshiba's 300mm wafer production facility in Oita, Japan.
Sony Looking to Raise Capital for Image Sensor Business
Sony plans to issue new shares of stock for the first time in 26 years as it hopes to raise about $4 billion in capital. The company said it will spend the money on bolstering its image sensor business, which is seeing high demand from smartphone and tablet makers.
Sony Buys Image Sensor Corp, to Sell Publishing Unit
Sony is making more moves to reorganize its varied businesses, including the purchase of an image sensor company and the potential sale of its music-publishing business. First, the company has acquired Softkinetic Systems, based in Belgium, for an undisclosed sum.