On October 27, 2011, Sony announced that it would acquire Ericsson's stake in Sony Ericsson for €1. 05 billion ($1. 47 billion), making the mobile handset business a wholly owned subsidiary of Sony. The transaction's completion was expected to occur in January 2012.  At their keynote at the 2012 Consumer Electronics Show, Sony's Kaz Hirai announced that Sony Ericsson would be known simply as Sony Mobile Communications pending completion of the transaction. On January 26, 2012, the European Union approved the buyout.  On February 16, 2012, Sony announced it had completed the full acquisition of Sony Ericsson. On January 7, 2013, Sony Mobile completed moving its headquarters from Lund, Sweden to Tokyo, Japan in order to fully integrate with its parent company.  The first Sony-only mobile was the Sony Xperia S at the 2012 Consumer Electronics Show. Sony Mobile Communications decided to phase out all the feature (non-smart) phones by September 2012 and focus completely on the smartphones segment.