Sony is making a move to buy out its mobile phone partner Ericsson in a deal that could cost upwards of $1.3 billion according to Yoshiharu Izumi, an analyst at J.P. Morgan in Tokyo.
A reports states that, "Sony and Telefon AB LM Ericsson have been talking for weeks about the future of the 50:50 joint venture because the companies must decide this month whether to renew their 10-year-old pact, two industry sources told Reuters."
Of course, "We have a long-term commitment to our joint ventures," said an Ericsson spokesman.
While Mami Imada, a Sony spokeswoman in Tokyo, stated, "The talks are not something that have been announced by Sony. We are declining to comment."
Source: Reuters
A reports states that, "Sony and Telefon AB LM Ericsson have been talking for weeks about the future of the 50:50 joint venture because the companies must decide this month whether to renew their 10-year-old pact, two industry sources told Reuters."
Of course, "We have a long-term commitment to our joint ventures," said an Ericsson spokesman.
While Mami Imada, a Sony spokeswoman in Tokyo, stated, "The talks are not something that have been announced by Sony. We are declining to comment."
Source: Reuters
Companies:
Sony
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