Sony Corporation (NYSE:SNE) has announced that they will be paying $1.47 billion for Telefon AB L.M. Ericsson’s 50% stake in the Sony-Ericsson venture. Sony has bought Ericsson’s “five essential patent families” through this acquisition. This was an intellectual property agreement between the two companies. The acquisition will allow Sony to incorporate their mobile products into other offerings like PCs, TVs, tablets, etc. The venture was created 10 years ago and Sony wants to catch up with rivals through this acquisition. Going forward Sony plans to get very aggressive in the mobile market space. Below is the company press release:

At the Nokia World conference in London, the company has revealed a mobile device that has a flexible display. When the device is twisted, it scrolls through music and photos. Bowing the device inwards and outwards zooms in and out of a photo. Tapping on the corners of the photos pans through them. Tapani Jokinen started working on the technology around two years ago as part of a Nokia group that was given a task of creating these designs from research. Nokia has not indicated if or when this product will ever hit the market. Check out the demo below from CNET:

Nokia CEO Stephen Elop has officially announced the “first real Windows Phone” known as the Nokia Lumia 800. The Lumia 800 has a single-core 1.4GHz processor. It has 16GB of internal storage and a 3.7-inch ClearBlack AMOLED screen with a black, cyan, or magenta case with speaker holes drilled in. The Lumia 800 has a camera button that triggers the f/2.2 Carl Zeiss Tessar lens. The operating system is Windows Phone Mango and it comes with 25GB of SkyDrive storage. The price is €420 ($580) without subsidies. You can pre-order the Lumia 800 now and it expects to be shipped in November in the UK, France, Spain, Germany, Italy, and the Netherlands. The Lumia 800 has a quad-band GSM device with 14.4Mbps HSDPA speeds. The 8-megapixel camera captures 720p30 video and there is 9.5 hours of 3G talk time. [This is my Next]

Ford Motor Company (NYSE:F) has announced a third quarter net income of $1.6 billion, or 41 cents per share. This is a $38 million decrease from Q3 2010. The pre-tax operating profit was $1.9 billion. The total company revenue for the third quarter was $33.1 billion, which is up $4.1 billion from Q3 2010. Ford Credit also reported a pre-tax operating profit of $581 million. This is a decrease from Q3 2010.

CBS Corporation (NYSE:CBS) subsidiary CNET.com is reportedly in acquisition talks for GDGT.com. GDGT.com was founded by Peter Rojas and Ryan Block. Talks between the CNET and GDGT started two years ago, but a deal fell through. Now the two companies are at it again.

Zaarly is a mobile marketplace company that has added Hewlett Packard CEO Meg Whitman to their board of directors. Zaarly has also recently raised $14 million in an investment led by Kleiner Perkins. “I just love her,” stated Zaarly co-founder and CEO Bo Fishback in an interview with VentureBeat. “She built the biggest peer-to-peer marketplace on the planet Earth … I just know she’s going to make me a better CEO.”

The stock price of Netflix, Inc. (NASDAQ:NFLX) has plummeted about 34% in heavy trading today. This is one day after the company announced a loss of over 800,000 subscribers. The company is also expecting to lose many more subscribers after adjustments to the new separation of DVDs and streaming services model. The stock price is trading at about $78.01 as of the time I am writing this article. Yesterday, the company’s stock was trading at about $93.30. In July, the company’s stock was at $300. Since July, Netflix has lost a market value of about $9.76 billion.

Tony Fadell designed the hardware for the iPod and he was the head of the iPod and iPhone division before he left his VP post to spend more time with his wife and kids. His family spent a year in Paris and then moved back to the U.S. While in Paris, Fadell decided what he wanted to do next: build a new high-tech thermostat.