Sony, Ericsson Talk Joint Venture Buyout: Report

NEW YORK ( TheStreet) -- Sony ( SNE) is in talks to buy out Ericsson's ( ERIC) stake in their mobile phone joint venture, according to Reuters, in an effort to unify its product offerings.

The move could help Sony gain in its battle against Apple ( AAPL) and Samsung. Japan's Sony has been hurt by its disparate offerings of mobile gadgets and online content -- tablets, games devices and other consumer electronics are offered under the Sony brand, while smartphones are offered under Sony Ericsson, Reuters noted.

Sony and Ericsson have been talking for weeks about the future of the joint venture. They must decide this month if they will renew their 10-year-old agreement, two industry sources told Reuters.

A source told Reuters that Sony was discussing a buyout.

An analyst at JPMorgan in Tokyo told Reuters the deal could be worth upwards of $1.3 billion.

The Wall Street Journal reported on Thursday the talks between Sony and Ericsson were ongoing and could break up at any time.

Both companies declines to comment on the discussions.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

More from Technology

Apple Rises Despite Price Target Cut by Piper Jaffray

Apple Rises Despite Price Target Cut by Piper Jaffray

Apple to Spend $1 Billion on New Campus in Austin, Texas

Apple to Spend $1 Billion on New Campus in Austin, Texas

General Electric Initiates $1.2 Billion Industrial IoT Effort as Stock Rebounds

General Electric Initiates $1.2 Billion Industrial IoT Effort as Stock Rebounds

Ciena Jumps After Earnings Blow Out Estimates

Ciena Jumps After Earnings Blow Out Estimates

What Did the World Look Like Before Photoshop? A History of Adobe

What Did the World Look Like Before Photoshop? A History of Adobe