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Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:

Ericsson to Expand Ties with Sony to Mobile TV: Official [Reuters]

Summary: According to Per Nordlof, Ericsson's director of product strategy and portfolio management, Sony and Ericsson are set to expand their venture to mobile and broadband TV. Nordlof commented, "We see a mass market for mobile TV within two years." He expects 30% of cell phone users to regularly watch TV on their phones. The Sony Ericsson JV has enjoyed success and reported its strongest earnings ever last quarter. Nordlof acknowledged the JV's confidence and said, "... we will work to develop software that connects the gadgets in the homes with the outer world."
Related links: Media coverage: Seattle PI. Commentary: Nokia: 'The Future of TV Will Be Personal'Report: Apple Developing iChat Smartphone. Conference call transcripts: Ericsson Q3'06,Sony F2Q'06.
Potentially impacted stocks and ETFs: LM Ericsson Telephone (ERIC), Sony (SNE) • Competitors: Motorola (MOT), Nokia (NOK), Apple (AAPL) • ETF: Wireless HOLDRs (WMH)

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Source: Sony Ericsson Sees Opportunity in Mobile TV