Sony Corp. has agreed to buy Ericsson AB's 50 percent stake in their 10-year-old mobile phone venture to integrate the smartphone business with its gaming and tablet offerings.
Ericsson will get €1.05 billion (¥113 billion) in cash for its shares in Sony Ericsson Mobile Communications AB, the Stockholm-based company said.
The proceeds from the deal are higher than the book value of Ericsson's stake.