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© beisea dreamstime.com Components | October 09, 2012

Ericsson and STMicro comment on market speculations

Following recent speculations in the market regarding the future of ST-Ericsson, the 50/50 joint venture between Ericsson and STMicroelectronics, both companies have made the following comments.

"ST-Ericsson announced its strategic plan in April and is in the middle of executing on company transformation aiming at lowering its break-even point. It is natural for the parent companies to continuously review the strategy of the company. The two parent companies, together with ST-Ericsson, are currently working with an external advisor in order to ensure the best possible future for ST-Ericsson. Both STMicroelectronics and Ericsson support ST-Ericsson in its transformation work and remain confident that the company has a strategic position in the industry to enable the device ecosystem."
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