STMicro, Ericsson in tie-up for semi-conductors, mobile platforms

0 Comments | AFP, August, 2008

STOCKHOLM (AFP) — French-Italian group STMicroelectronics and Sweden's Ericsson announced Wednesday a 50-50 joint venture merging their semi-conductor and mobile telephone platform activities.

The operations generated, as separate entities, sales of 3.6 billion dollars in 2007. The new group, which will be based in Geneva, will employ 8,000 people.

The tie-up of Ericsson Mobile Platforms and ST-NXP Wireless "will have the strongest product offering in semiconductors and platforms for mobile applications," the companies said in a joint statement.

It will be "an important supplier to Nokia, Samsung, Sony Ericsson, LG and Sharp," they added.

They said the new merged group will not make its own silicon wafer electronic components.

ST-NXP, the...