Sony has the money to completely buy out Ericsson. Which means that they control the shots at the company now. Sony bought out the remaining stock for nearly $1.4 billion and this paves the way for a real PS Phone.

“This acquisition makes sense for Sony and Ericsson, and it will make the difference for consumers, who want to connect with content wherever they are, whenever they want,” Sony CEO Sir Howard Stringer.

“We can more rapidly and more widely offer consumers smartphones, laptops, tablets and televisions that seamlessly connect with one another and open up new worlds of online entertainment,” he added.

They also get a few patent as a result of this deal and Sony has complete control over Ericsson now.

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Sony and Ericsson both have operated in a joint venture selling mobile phones. Sony Ericsson is the 6th largest mobile phone producer in the world, but according to some reports by the Wall Street Journal, Sony is looking to buy Ericsson and make mobile phones themselves.

Sony Ericsson recently released the Xperia Play which was received decently by the critics, but it seems like Sony does not trust Ericsson much. So if they do buy out Ericsson, we may see a true Playstation Phone.

The rumours were via some insiders, who reported that Sony was aggressively trying to buy the company. Sony and Ericsson entered into a joint venture partnership in 2001 and have 50-50 share.

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Sony Ericsson has teased that Minecraft is headed to Xperia Play. They have posted a small 9 second video showing the game running on the slider Smartphone. Tell us what you think of the footage in the comments section below.