It was reported that after the equity transaction was officially completed, Ericsson made a profit of about 7.5 billion Swedish kronor (about 1.05 billion euros) from this transaction, and it would be included in the first quarter report released on April 25, 2012, as "other operating income". As a result, the well-known Chinese brand "Sony Ericsson" will become history, and the company will be officially renamed "Sony Mobile Communications AB", headquartered in London, UK. Sony revealed that apart from a research and development center in Beijing, China, Sony Mobile Communications AB also established R&D centers in Lund, Silicon Valley, and Tokyo. The company has about 8,000 employees and a registered capital of 100 million euros. It is reported that the cooperation between the two parties can be traced back to October 1, 2001, when Sony Ericsson was established. At the beginning of the joint venture, both Ericsson and Sony integrated their uncertain mobile phone businesses, but the "integration" was not effective. After more than ten years of integration, Sony Ericsson failed to launch models with enough market impact when the era of smartphones arrived. During this period, the market shares of Apple, Android series, and Windows Phone series continued to rise. Last year's third-quarter data from Sony Ericsson showed: the company barely stopped the momentum of multi-quarter losses, with net income at zero. However, in the second quarter, the net loss reached 50 million euros (70.6 million US dollars), and the mobile phone shipments decreased by 6.2% compared to the first quarter's 8.1 million units, and sharply dropped by 30.9% compared to the same period last year's 11 million units. Sony Ericsson's predicament can be said to be a typical example of the entire Japanese mobile phone industry's dilemma in China. Just a few years ago, when the trend of feature phones shifted to smartphones, many Japanese mobile phone manufacturers, including Toshiba, Panasonic, Mitsubishi, Kyocera, and Sharp, all failed in China.