STOCKHOLM Dec 20 Ericsson will take
an 8 billion crown ($1.22 billion) charge in the fourth quarter
related to its loss-making joint venture ST-Ericsson, the
world's top mobile network maker said on Thursday.
"The charge includes write down of assets to reflect the
current best estimate of Ericsson's share of the fair market
value of the JV, as well as additional charges related to the
available strategic options for the future of the ST-Ericsson
assets," Ericsson said in a statement.
Ericsson said it was exploring strategic options for
chip-maker ST-Ericsson, but that it would not acquire the
remainder of the company from STMicro which has already
announced it will exit the 50-50 joint venture.
ST-Ericsson will need around 3 billion crowns of additional
funding from Ericsson, mostly coming in 2013, Ericsson said.