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Ericsson, Sony Joint Venture to Start October 1
A joint venture co-financed by Japanese major electronics maker Sony Corp. and Ericsson, the Swedish telecom equipment giant, will start operation on October 1, according to sources with Ericsson (China).
Sony Ericsson Mobile Communications (SEMC), which has about 3, 500 employees at its initial development stage, will be in charge of product development, sales and marketing and some other businesses.
Ericsson, the world's third-largest mobile phone maker, currently engaged in building mobile and wide-band Internet communication systems, has provided technical solutions to over 140 countries.
Sony, a worldwide provider of musical, computer-related products and on-line services, will join with Ericsson to share the world's mobile phone market.
The two companies sold 50 million mobile phones last year, with sales value of US$7.2 billion.
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