Sony Corp. (NYSE: SNE), Ericsson AB (Nasdaq: ERIC) and Orange (NYSE: FTE) lead us off in today's trip through the EMEA telecom news headlines.
As had been predicted in some prescient quarters, Sony has bought out Ericsson's share of the pair's Sony Ericsson Mobile Communications handsets joint venture. The Swedish vendor, which has shifted its focus to services in recent times, will receive a €1.05 billion (US$1.46 billion) cash payment for its troubles. For its part, Sony sees the move as a way of better exploiting its content-related assets in the smartphone arena and integrating its smartphones more closely into the respected Sony-branded family of consumer electronics devices. (See Sony Acquires Ericsson's Share of JV and Euronews: Ericsson Could Quit Handsets.)