The EU approves Sony's bid for Ericsson
2021-05-06
The European Commission has approved Sony"s decision to buy Ericsson"s stake of the Sony Ericsson joint venture.
The ten year long alliance is coming to an end and the EU approval is a huge step for Sony. Back in October the ladder announced it will be buying Ericsson"s stake in the joint venture for €1.05 billion. Two weeks ago Sony Ericsson posted a quarterly net loss of €207 million, selling a total of only 34.4 million handsets for the entire year, that"s around 3 million less than Apple did in just last quarter alone.
