Tag: joint venture

BlackBerry And LG Are Making Autonomous Cars
A press release has announced the partnership of BlackBerry Limited with LG Electronics Inc. for a major new project. The aforementioned brands are recognisable for their consumer grade electronic products. However, the new project that is being spearheaded by the two companies will encompass the automobile industry, namely self-driven (autonomous) cars.

Historically, LG and BlackBerry were popular smartphone brands. The companies were critically acclaimed worldwide for their handsets, including India. The onset of the smartphones industries tech race had rendered BlackBerry and its business-centric devices obsolete. LG faired much better in comparison but has also seen a decline in the last couple of years. Though, the company is well known for its home appliances such as televisions and refrigerators.

The new project for autonomous cars is a heavy task. Self-driven cars are unlikely to hit Indian market anytime soon but are already being tested in developed nations like the US. Google, Apple, Uber and other such companies have been testing the technology for a while now. The automobile industry would greatly benefit from the expertise of both the companies in the arriving years.

The new agreement formed between the companies carries statements of the joint expansion through the partnership. Both the companies are large corporations that have only a small part of their business models aimed at the smartphone industry. Blackberry is well-renowned for its QNX software-based services and safety solutions that are being utilized by a multitude of companies.

Google’s Autonomous Vehicle

The companies have formed a conjunction to push forward the development and commercial availability of autonomous vehicles. The entire automobile industry has been working on numerous autonomous locomotives for years now. This new collaboration will seek to accelerate the transitional process between traditional to self-driving cars. The project will encompass a network of self-driving vehicles that are connected to one another. It will also help boost the myriad of suppliers that automobile OEMs are working with.

According to the report, BlackBerry’s QNX-based software solutions are planned on being incorporated by LG Electronics. The South Korean company’s hardware expertise will use QNX solutions to build numerous next-gen components such as:
- A security solution designed to help safeguard the system against malware and cyber threats and prevent malfunctions.
- Incorporate an improved voice and sound quality systems, namely media entertainment system, for the car’s internals.
- To build the control system for autonomous cars.
- An accessible mobile interface with control over multimedia functionalities.
Furthermore, the companies’ goals are to “produce cutting-edge cars for the future of the automotive market”. BlackBerry, unlike LG, has shifted its focus on its software services that are used in the mobile and automobile industry. The Canadian company is already supplying its technology to manufacturers developing driverless cars. LG, however, is still present in the smartphone market with its latest W series entries being launched in India. The company is still a big name in household products and is planning diversification in new ventures such as this.

LG W10

Also Read: WhatsApp Tests Feature That Allows Sharing Status To Facebook

The implications of the joint venture could be huge. Both LG and BlackBerry could potentially reduce the time frame for commercially available self-driving cars. The companies will rely on each other’s strong suits for the partnership. It might not be too long before the project bears its fruits. Unfortunately, it is just an announcement and not an actual product launch. We are still years away from actually seeing such cars in real-world practice.
June 27, 2019
General Motors To Launch Sail U-VA in November; New Spark Launched Today

General Motors India have successfully launched the new Spark at a base price of Rs 3.16 lakhs, and a topend price of Rs 4.10 lakhs for the LPG variant. Now, the American car maker is all set to launch their next car, Chevrolet Sail U-VA, in India. Chevy Sail is a sub 4 meter hatchback and is expected to be launched in November.

This is the first model to be launched in India from the General Motors SAIC joint venture. Sail U-VA will sit on a 2465mm wheelbase, promises a generous amount of internal space while external styling is also up to expectations. The vehicle will be fitted with a 79 bhp 1.2 liter petrol engine and a 1.3 liter diesel engine, while prices are expected to be in the Rs.4.2 lakh range for the petrol variant and going upto Rs.5.8 lakhs for the diesel counterpart. ARAI has pegged mileage to be at 22.1 kmpl for the diesel variant

The company website displays the Sail U-VA with a new front fascia, interiors are done up in a two tone finish while safety features are at a premium. Fuel tank being strategically positioned means that boot capacity is extended to 1134 liters when seats are folded down. Once launched, Sail U-VA will compete with Maruti Swift, Ford Figo and Toyota Etios. Chevrolet has also launched a new video to promote their new Sail hatchback in India.

[Rush Lane]

October 25, 2012
Sony Ericsson split complete : Sony Mobile Communication is the new name
The big split is finally, final. Sony and Ericsson have finally spilt up, to name the new company Sony Mobile Communications. Sony has finally taken over Telefonaktiebolaget LM Ericsson’s 50-percent stake in the pair’s former joint venture, reported to have cost €1.05 billion ($1.37 billion). The reports of this split started to appear in the last months of 2011.

PRESS RELESE :
- The previously announced divestment of Ericsson’s share of Sony Ericsson to Sony, including the broad IP cross-licensing agreement, completed on February 15, 2012
- Ericsson’s gain on the transaction will be approximately SEK 7.5 billion and reported as ‘Other operating income’
Ericsson (NASDAQ:ERIC) has today completed the divestment of its 50 percent stake in Sony Ericsson Mobile Communications AB (“Sony Ericsson”), including the broad IP cross-licensing agreement, jointly announced by Sony Corporation (“Sony”) and Ericsson on October 27, 2011. This makes Sony Ericsson a wholly-owned subsidiary of Sony. The agreed cash consideration for the transaction is EUR 1.05 billion.

Ericsson’s gain on the transaction will be approximately SEK 7.5 billion and will be reported in the first quarter result on April 25, 2012, as ‘Other operating income’ in the income statement.

[via]

[Sony]
February 16, 2012
Sony sells its stake in SLCD back to Samsung for US$ 939 Million (PR)

Sony has sold its stake in the SLCD division of Samsung, the initial tie up was a 50%-50% partnership between the two companies. The venture was started seven years ago and now the companies have decided to part ways. The 50% stake that Sony owned was bought back by samsung for a sum of US $ 939 million, and Sony believes that it will continue engineering efforts for LCD developments in the future alongside Samsung.

[toggle title_open=”Press Release” title_closed=”Press Release” hide=”yes” border=”yes” style=”default” excerpt_length=”0″ read_more_text=”Read More” read_less_text=”Read Less” include_excerpt_html=”no”]Sony and Samsung Shift to New LCD Panel Business Alliance

• Samsung to acquire all of Sony’s shares of S-LCD, making the joint venture its wholly-owned subsidiary
• Sony and Samsung enter into a strategic agreement for supply and purchase of LCD panels.

Tokyo, Japan – Sony Corporation (“Sony”) and Samsung Electronics Co., Ltd. (“Samsung”) today announced that the two companies have signed agreements to transition the current business relationship with respect to LCD panels.

Under the agreement, Samsung will acquire all of Sony’s shares of S-LCD Corporation (“S-LCD”), the two companies’ LCD panel manufacturing joint venture, making S-LCD a wholly owned subsidiary of Samsung. In consideration for the share transfer, cash consideration of approximately KRW 1.08 trillion* will be paid to Sony by Samsung. Concurrently, the two companies have entered into a new strategic agreement for the supply and purchase of LCD panels with a goal of enhancing the competitiveness of both companies. The agreement also allows Sony and Samsung to continue cooperative engineering efforts focused on LCD panel technology.

For Sony, this transaction will enable it to monetize its shares in S-LCD and aims to secure a flexible and steady supply of LCD panels from Samsung, based on market prices and without the responsibility and costs of operating a manufacturing facility. With whole ownership of S-LCD, Samsung anticipates heightened flexibility, speed and efficiency in both panel production and business operations.

Established in April 2004, S-LCD has continued to deliver advanced and cost-competitive LCD panels to both of its parent companies, contributing to the expansion of the respective parties’ TV businesses, and the large-sized LCD TV market overall. However, LCD panel and TV market conditions have now changed. In order to respond to such challenging conditions and to strengthen their respective market competitiveness, the two companies have agreed to shift to a new LCD panel business alliance.

The share transfer and payment are targeted to close by the end of January 2012, subject to necessary approvals from regulatory authorities.

As a result of this transaction, a non-cash impairment loss of approximately JPY 66 billion is expected to be incurred by Sony in the third quarter of the fiscal year ending March 31, 2012, due to the reevaluation of its S-LCD shares. This loss includes an impact from the fluctuation of exchange rate. Despite this one-time loss, Sony estimates that the transaction will result in substantial savings on and after January 1, 2012 in respect of costs associated with its
procurement of LCD panels. The current estimate of the yearly savings in respect of such costs is approximately JPY 50 billion, compared to LCD panel procurement costs estimated for the fiscal year ending March 31, 2012. Neither the one-time loss nor the estimated cost savings were included in Sony’s forecast of consolidated financial results for the current fiscal year ending March 31, 2012, announced on November 2, 2011. Sony is currently reevaluating this forecast, taking into account this transaction and other factors that might affect its full year FY2011 consolidated financial results forecast.

Facts about S-LCD
Established: April 26, 2004
Capital: KRW 3.3 Trillion
(Samsung Electronics: 50% plus 1 share, Sony: 50% minus 1 share)
Representative: Location: Production Items:
Donggun Park, CEO
Tangjeong, Chung Cheong Nam-Do, South Korea 7th and 8th generation Amorphous TFT LCD
*Note: The final amount of such payment will be determined based on S-LCD’s financial statements as of the end of December 2011.[/toggle]

December 27, 2011
Sony and Ericsson literally get divorced, to become Sony in Mid 2012

The court of MiddleSex has announced a Divorce b/w Sony and Ericsson and the latter has till the mid of 2012 to clear out their stuff and vamoose. Sony Ericsson will be renamed Sony in mid 2012 as apart of a merger break up decided earlier this year. Sony Vice President Kristian Tear said that the company will have a “‘fierce” advertising campaign to push the brand back into the eyes of the consumer.

[Times of India]

December 6, 2011
End Of Days: Sony Buys out stake from Sony Ericsson at €1.05 billion

Rumors are all out, and put to an end. Sony has confirmed that it will buy out its stake from the JV of Sony Ericsson for a whopping €1.05 billion in exchange for its 50 percent. This will give Sony full ownership of the company soon to be rebranded worldwide. This will also enable the company to have a more systematic alignment with the arsenal of tablets and PCs it plans in the future.

The buyout will also give IP cross-licensing agreement and ownership of “five essential patent families” to ensure they stay in the mobile phone business. The separation will be finalized in Jan 2012.

[toggle title_open=”Press Release” title_closed=”Press Release” hide=”yes” border=”yes” style=”default” excerpt_length=”0″ read_more_text=”Read More” read_less_text=”Read Less” include_excerpt_html=”no”]Ericsson: Sony to acquire Ericsson’s share of Sony Ericsson

October 27, 2011, 08:16 (CEST)

Sony Ericsson to become a wholly-owned subsidiary of Sony and integrated into Sony’s broad platform of network-connected consumer electronics products
The transaction also provides Sony with a broad IP cross-licensing agreement and ownership of five essential patent families
Ericsson to receive EUR 1.05 billion cash payment
Sony and Ericsson to create wireless connectivity initiative to drive connectivity across multiple platforms
Ericsson (NASDAQ:ERIC) and Sony Corporation (“Sony”) today announced that Sony will acquire Ericsson’s 50 percent stake in Sony Ericsson Mobile Communications AB (“Sony Ericsson”), making the mobile handset business a wholly-owned subsidiary of Sony.

The transaction gives Sony an opportunity to rapidly integrate smartphones into its broad array of network-connected consumer electronics devices – including tablets, televisions and personal computers – for the benefit of consumers and the growth of its business. The transaction also provides Sony with a broad intellectual property (IP) cross-licensing agreement covering all products and services of Sony as well as ownership of five essential patent families relating to wireless handset technology.

As part of the transaction, Ericsson will receive a cash consideration of EUR 1.05 billion.

During the past ten years the mobile market has shifted focus from simple mobile phones to rich smartphones that include access to internet services and content. The transaction is a logical strategic step that takes into account the nature of this evolution and its impact on the marketplace.

This means that the synergies for Ericsson in having both a world leading technology and telecoms services portfolio and a handset operation are decreasing. Today Ericsson’s focus is on the global wireless market as a whole; how wireless connectivity can benefit people, business and society beyond just phones. Consistent with that mission, by setting up a wireless connectivity initiative, Ericsson and Sony will work to drive and develop the market’s adoption of connectivity across multiple platforms.

“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. With a vibrant smartphone business and by gaining access to important strategic IP, notably a broad cross-license agreement, our four-screen strategy is in place. 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. This includes Sony’s own acclaimed network services, like the PlayStation Network and Sony Entertainment Network,” said Sir Howard Stringer, Sony’s Chairman, Chief Executive Officer and President. Mr Stringer also noted that the acquisition will afford Sony operational efficiencies in engineering, network development and marketing, among other areas. “We can help people enjoy all our content – from movies to music and games – through our many devices, in a way no one else can.”

“Ten years ago when we formed the joint venture, thereby combining Sony’s consumer products knowledge with Ericsson’s telecommunication technology expertise, it was a perfect match to drive the development of feature phones. Today we take an equally logical step as Sony acquires our stake in Sony Ericsson and makes it a part of its broad range of consumer devices. We will now enhance our focus on enabling connectivity for all devices, using our R&D and industry leading patent portfolio to realize a truly connected world” said Hans Vestberg, President and CEO of Ericsson.

When Sony Ericsson started its operations on October 1, 2001, it combined the unprofitable handset operations from Ericsson and Sony. Following a successful turnaround the company has become a market leader in the development of feature phones by integrating Sony’s strong consumer products knowledge and Ericsson’s telecommunications technology leadership. The WalkmanTM phone and Cyber-shotTM phone are well known examples.

With the successful introduction of the P1 in 2007, Sony Ericsson early on established itself in the smartphone segment. More recently, the company has successfully made the transition from feature phones to Android-based Xperia(TM) smartphones. By the end of the third quarter of 2011, Sony Ericsson held a market share of 11 percent (by value) in the Android phone market, representing 80 percent of the company’s third quarter sales. During its ten years in operation Sony Ericsson has generated approximately EUR 1.5 billion of profit and paid dividends totalling approximately EUR 1.9 billion to its parent companies. Prominent models include “XperiaTM arc” and “XperiaTM mini” which received 2011 EISA Awards, while recent notable additions to the lineup include “XperiaTM PLAY” and “XperiaTM arc S”.

The transaction, which has been approved by appropriate decision-making bodies of both companies, is expected to close in January 2012, subject to customary closing conditions, including regulatory approvals.

Ericsson has accounted for its 50 percent share in Sony Ericsson according to the equity method. Following completion of the transaction, Ericsson will have no outstanding guarantees relating to Sony Ericsson and will no longer account for Sony Ericsson as an investment on balance sheet. The transaction will result in a positive capital gain for Ericsson which will be defined after closing of the transaction.

SEB Enskilda is acting as Ericsson’s sole financial advisor in the transaction.[/toggle]

October 27, 2011
Sony Plans to buy out Ericsson’s part from Sony Ericsson, Move up in the Cell phone world

Sony has decided to take some action about its current global standing in the top cellphone vendors list. Currently at 6th place , Sony has decided to finalize the deal between Sony and Ericsson that will give total control of the mobility division to sony and hence all future devices will be known as “Sony Mobiles” and not “Sony Ericsson”. Ericsson currently roughly $1.3 to $1.7 billion worth of mobile technology patents are the main reason for the partnership buyout.

[Wall Street Journal]

October 7, 2011