Sony and Ericsson Boards approve Joint Venture
Tuesday, September 11 2001
Sony and Ericsson Boards approve Joint Venture
Telefonaktiebolaget LM Ericsson and Sony Corporation announced today that their
respective Boards have approved the Mobile Phone Joint Venture. During meetings
in Stockholm, the Board of directors of both parent companies confirmed that the
new company, Sony Ericsson Mobile Communications AB, will start operations on October
1, 2001, subject to necessary approvals from regulators.
The Board of Sony Ericsson Mobile Communications AB will include Kurt Hellström,
President and Chief Executive Officer of Ericsson, Kunitake Ando, President and
Chief Operating Officer of Sony Corporation, Sten Fornell Executive Vice President
and Chief Financial Officer of Ericsson, Teruhisa Tokunaka, Executive Deputy President
and Chief Financial Officer of Sony Corporation, Morgan Bengtsson, President of
Ericsson Japan, Otto Zich, Chairman and Chief Executive Officer of Sony Europe,
Katsumi Ihara, President of Sony Ericsson Mobile Communications AB and Jan Wäreby,
Executive Vice President of Sony Ericsson Mobile Communications AB.
On August 28, both companies signed an agreement to set up Sony Ericsson Mobile
Communications as an equally owned Joint venture, a company that aims to become
a leading player in mobile phones and multimedia handheld communication products
within several years.
About Ericsson
Ericsson is shaping the future of Mobile and Broadband Internet communications through
its continuous technology leadership. Providing innovative solutions in more than
140 countries, Ericsson is helping to create the most powerful communication companies
in the world.
Read more at www.ericsson.com/press
About Sony Corporation
Sony Corporation is a leading manufacturer of audio, video, game, communications
and information technology products for the consumer and professional markets. With
its music, pictures, computer entertainment and on-line businesses, Sony is uniquely
positioned to be a leading personal broadband entertainment company in the world.
Sony recorded consolidated annual sales of nearly US$ 60 billion for the fiscal
year ended March 31, 2001.
Sony's home page URL: www.world.sony.com
Parallel to this press release, photographs featuring the Boards are available in
the photo library on this site.