Electronics Production |
EU clears ST-NXP & EMP Joint Venture
The Joint Venture between two divisions within Sweden based telecom giant Ericsson and Swizerland based semiconductor firm STMicroelectronics have got permission from EU competition authorities.
The EU Commission said the transaction would not impede competition in the common market, Reuters reported Wednesday. STMicroelectronics and Ericsson are to merge Ericsson Mobile Platforms and ST-NXP Wireless into a joint venture. The 50/50 joint venture will have product offerings in semiconductors and platforms for mobile applications and will be a supplier to Nokia, Samsung, Sony Ericsson, LG and Sharp.
