Sony Mobile Communications Inc. (formerly Sony Ericsson) is a multinational mobile phone manufacturing company headquartered in Tokyo, Japan, and Lund, Sweden, and is a wholly owned subsidiary of Sony Corporation. It was founded on October 1, 2001 as a joint venture between Sony and the Swedish telecommunications equipment company Ericsson, under the name Sony Ericsson. Sony acquired Ericsson's share in the venture on February 16, 2012.Sony Mobile Communications has research and development facilities in Tokyo, Japan; Chennai, India; Lund, Sweden; Beijing, China and Silicon Valley, United States. Sony Mobile was the fourth-largest smartphone manufacturer by market share in the fourth quarter of 2012 with 9.8 million units shipped.The current flagship device of Sony is the Sony Xperia Z3, a smartphone that is water and dust proof with an IP rating of 68, a Quad core 2.5 GHz Krait Processor, Qualcomm Snapdragon 801 Chipset, Android 4.4.4 OS, and a 20.7-megapixel, G Lens, Exmor RS, and BIONZ image processor powered, 4K camera.