Report: Sony, Ericsson to form cellphone JV

Sony Corp. and L.M. Ericsson Telephone Co. have agreed to form a cellular telephone joint venture covering areas ranging from development to sales, Japanese public television NHK reported Thursday morning.

The new joint venture, on which basic agreement has been reached, will be based in the U.K., said the report.

"There are negotiations but nothing has been decided," said Merran Wrigley, a spokeswoman for Sony.

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