Sony-Ericsson joint venture official
Ericsson and Sony have agreed on the terms associated with merging their mobile phone businesses on a worldwide basis. The merger still is subject to final approval from companies’ boards. as well as regulatory approval.
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The two companies, which announced a preliminary agreement in April, plan to begin operating their joint venture, Sony Ericsson Mobile Communications, on Oct. 1.
Sony Ericsson Mobile Communications will begin its activity with global product, marketing and sales operations and an initial workforce of 3,500 employees. Global management will be based in London.
--Kelly Carroll, staff writer
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© 2012 Penton Media Inc.
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