Rumours suggest that Sony is looking to buy out Ericsson from its joint mobile venture, giving the PlayStation manufacturer complete control over the Sony Ericsson Xperia Play - the first PlayStation certified smartphone.

According to the Wall Street Journal,, Sony is looking to hand over between $1.3 and $1.7 billion in the takeover.

Should the deal go ahead, Sony can begin to throw its weight around in the smartphone sector, supporting the PlayStation Portable, Vita, PC and tablet businesses.