Sony completes Ericsson buyout

With regulators signing off, we knew it was just a matter of time before Sony’s buyout of mobile partner Ericsson was complete, and it looks like today’s the day. Sony has announced that it has finished its acquisition of Telefonaktiebolaget LM Ericsson’s 50-percent stake in Sony Ericsson, a move that came at a cost of €1.05 billion ($1.47 billion). While Sony has already begun rebranding Sony Ericsson products under its own name, the company also announced that it would be renaming its mobile unit Sony Mobile Communications as part of a larger strategy to unite the company’s various departments under the leadership of new CEO Kazuo Hirai.