Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Ericsson in mobile joint venture

Share this article

08:36 CEST+02:00
Swedish telecoms equipment group Ericsson has announced it is to join forces with semiconductor group STMicroelectronics.

The two companies said on Wednesday they would combine their chip and mobile applications businesses into a venture with proforma 2007 sales of $3.6 billion.

The deal will merge Ericsson Mobile Platforms and ST-NXP Wireless into a 50/50 fabless joint venture that will employ almost 8,000 people.

The venture will serve the two group's existing customers such as Nokia, Samsung, Sony Ericsson, and Sharp.

"By combining the complementary strengths and product offerings of Ericsson and ST in platforms and semiconductors the joint venture is well positioned to become a world leader," said Carl-Henric Svanberg, President and CEO of Ericsson, in a statement.

AFX/The Local

Get notified about breaking news on The Local

Share this article

From our sponsors

Swedish for programmers: Tailored Swedish courses for techies

How do you get a job in Sweden's competitive tech industry if you're new to the country and don't speak the language? Enter SFX-IT, a specialised language course tailored for foreign techies living in Sweden.